SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold prices rose in Asia on Wednesday in light trade with China market shut and holding steady from overnight ahead of Federal Reserve meeting minutes for September.On the Comex division of the New York Mercantile Exchange, gold for December delivery rose 0.06% to $1,147.10 a troy ounce.Overnioght, gold futures rose considerably on Tuesday amid a weaker dollar, as the International Monetary Fund cut its forecast for global economic growth for the second time this year.

• Crude oil prices gained in Asia on Wednesday as investors eyed a drop in U.S. stocks.The American Petroleum Institute’s weekly inventory report showed a drop of 1.2 million barrels last week for crude, though refined products data was not available.On the New York Mercantile Exchange, WTI crude for November delivery rose 0.64% to $48.79 a barrel.

• Copper climbed in thin trade on Wednesday as the end to a week of holidays in top consumer China neared, and an industry group revised its expectations from a surplus next year to a small deficit. A string of output cuts at copper miners in the past few months has provided fragile support for metals prices beaten down by sluggish demand growth in China, but analysts say more cuts or stronger demand are needed to boost prices.

TRADING STRATEGY :
BUY GOLD ABOVE 1149 TARGET 1154 1161 SL 1143
SELL GOLD BELOW 1140 TARGET 1135 1129 SL 1146

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