SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL CURRENCY BUZZ :

• Copper prices fell by 0.13 per cent on Wednesday after the US retail sales fell less than expected in February but a sharp downward revision to January’s data could reignite concerns about the economy’s growth prospects which reduced the demand outlook for the metal. Retail sales dipped 0.1 percent last month as automobile purchases fell and cheaper gasoline undercut receipts at service stations.

• Oil rose above $41 a barrel on Thursday, trading close to a 2016 high, bolstered by a plan among some of the world’s biggest producers to meet next month to discuss supporting the market.OPEC and non-OPEC producers including the top two exporters, Saudi Arabia and Russia, will meet on April 17 in Qatar over a plan to freeze output, increasing the likelihood of the first global supply deal in 15 years.

• Gold futures held on to strong overnight gains in European trade on Thursday, after the Federal Reserve kept    interest rates unchanged and indicated just two more rate hikes this year instead of the four expected. Gold for April delivery on the Comex division of the New York Mercantile Exchange jumped $37.00, or
  3.01%, to trade at $1,266.80 a troy ounce by 08:05GMT, or 4:05AM ET.

TRADING STRATEGY :
BUY GOLD ABOVE 1270 TARGET 1275 1281 SL 1264
SELL GOLD BELOW 1263 TARGET 1258 1252 SL 1269

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