SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• West Texas Intermediate oil futures fell again in Europe trade on Thursday, amid speculation weekly supply data due later in the session will show U.S. crude inventories rose at a faster pace than expected last week. The U.S. Energy Information Administration will release its weekly report on oil supplies at 16:00GMT, or 11:00AM ET, Thursday.

• Gold futures edged lower in Europe trade on Thursday, after rising to a more than one-week high in the prior session, as market players looked ahead to upcoming U.S. economic data as well as the European Central Bank’s policy statement amid ongoing concerns over the oil rout.Investors kept an eye on U.S. data due later in the session to gauge if the world’s largest economy is strong enough to withstand further rate hikes in 2016.

• Copper futures rallied modestly during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amidst a pickup in physical demand for copper in the domestic spot market. However worries that a worsening economic slowdown in China the world’s biggest metals consumer may curb the demand for the industrial metal trimmed gains in copper as China’s stock markets declined for a second straight day as traders seemed unsure over policymakers’ ability to manage an economic slowdown and tackle financial volatility.

TRADING STRATEGY :
BUY GOLD ABOVE 1103 TARGET 1108 1113 SL 1097
SELL GOLD BELOW 1097 TARGET 1092 1086 SL 1103

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