SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Copper prices jumped to a more than one-week high in Europe trade on Tuesday, after China’s quarterly economic growth met expectations, calming fears over a deeper than expected slowdown.Official data released earlier showed that China’s economy grew 6.8% in the fourth quarter from a year earlier, the weakest pace of growth since the first quarter of 2009.

• Oil prices pushed higher in Europe trade on Tuesday, after China’s fourth quarter growth met expectations and sparked hopes for more stimulus. Official data released earlier showed that China’s economy grew 6.8% in the fourth quarter from a year earlier, the weakest pace of growth since the first quarter of 2009. That was in line with market expectations and down from growth of 6.9% in the previous three months.

• Gold futures inched lower on Tuesday, as a recovery in global equity markets dampened demand for safe-haven assets.Global stock markets rallied on Tuesday after China’s fourth quarter growth met expectations and sparked hopes for more stimulus to support the world’s second largest economy.Gold for February delivery on the Comex division of the New York Mercantile Exchange dipped $2.00, or 0.18%, to trade at $1,088.80 a troy ounce by
  10:05GMT, or 5:05AM ET.

TRADING STRATEGY :
BUY GOLD ABOVE 1095 TARGET 1100 1106 SL 1089
SELL GOLD BELOW 1090 TARGET 1085 1079 SL 1096

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