SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil prices fell on Wednesday after industry data showing a huge build inU.S. crude stockpiles that were already at record highs.U.S. crude inventories jumped by 9.9 million barrels last week the American Petroleum Institute said after Tuesday’s settlement.That was well above a 3.6-million barrel increase expected by analysts.

• Gold futures were slightly lower in European trade on Wednesday, as investors looked ahead to key U.S. data later in the day to gauge if the world’s largest economy is strong enough to withstand further rate hikes this year. The U.S. was to release the ADP employment report for February at 13:15GMT, or 8:15AM ET, amid expectations for a gain of 190,000 jobs.

• Natural Gas futures sank more than 2 per cent during noon trade in the domestic market on Wednesday as investors and speculators shunned the energy commodity as forecasts for above normal temperatures threatened to cut demand for the heating fuel in the world’s biggest fuel consuming nation.Updated weather forecasting models called for the arrival of mild spring weather across parts of the US in the next ten days which may curb demand for gas-fired heating at offices and homes.

TRADING STRATEGY :
BUY GOLD ABOVE 1235 TARGET 1240 1246 SL 1229
SELL GOLD BELOW 1222 TARGET 1217 1211 SL 1228

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