SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL CURRENCY BUZZ :

• Silver futures retreated during noon trade in the domestic market on Monday as investors and speculators exited positions in the precious metal tracking weakness in the bullion internationally as a slightly stronger dollar curbed the lure for silver as an alternative asset.Stronger greenback makes silver more expensive for those holding other currencies thus dimming bullion demand.

• Gold futures were lower in European trade on Monday, falling for the second straight session as the U.S. dollar recovered from losses suffered in wake of the Federal Reserve’s dovish statement.The dollar continued to recover from five-month lows as investors closed out bearish bets following an aggressive selloff late last week.

• Oil prices slid for a second day on Monday, under pressure from signs that some of the nimbler U.S. producers increased drilling last week and from uncertainty surrounding a meeting of the world’s major exporters next month to discuss freezing output.U.S. energy firms last week added one oil rig after 12 weeks of cuts, according to data from industry firm Baker Hughes.

TRADING STRATEGY :
BUY GOLD ABOVE 1250 TARGET 1270 1300 SL 1220
SELL GOLD BELOW 1240 TARGET 1220 1190 SL 1270

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