SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL CURRENCY BUZZ :

• Natural Gas futures plunged by more than 3 per cent in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking weakness in the fuel overseas as forecasts for late winter cold across the eastern parts of the US failed to live up to expectations dimming the demand for gas-fired heating at offices and homes.

• Copper prices fell by 0.27 per cent on Tuesday as speculators cut down their bets after select base metals weakened in global markets.Market analysts said most base metals retreated at the London Metal Exchange (LME) as the prospect of acceleration in US rate hikes supported the dollar dampening demand for metals and other commodities put weighed on copper futures.

• Gold prices rose by 0.16 per cent on Tuesday as markets weighed fresh comments from Fed policymakers on the track for rate hikes in 2016. Atlanta Fed President Dennis Lockhart said that despite risks to the downside that have arisen since the beginning of the year the US economy continues to grow about as he expected. Gold futures for April 2016 contract at MCX were trading at Rs. 28987 per 10 grams up by 0.16 per cent after opening at Rs. 28961 against the previous closing price of Rs. 28941.

TRADING STRATEGY :
BUY GOLD ABOVE 1255 TARGET 1275 1305 SL 1225
SELL GOLD BELOW 1240 TARGET 1220 1190 SL 1270

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