SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Natural Gas futures extended a slump during noon trade in the domestic market on Thursday as investors and speculators exited positions in the energy commodity as forecasts for mild temperatures in March across the US threatened to curb demand for the heating fuel and expand a supply glut.The Commodity Weather Group called for warmer than normal weather in the US in the coming days reducing the need for gas-fired heating at offices and homes in the world’s biggest fuel consuming nation.

• Gold futures drifted higher in European trade on Thursday, 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 weekly report on initial jobless claims at 15:30GMT, or 8:30AM ET, followed by the U.S. Institute of Supply Management’s report on service sector growth for February at 15:00GMT, or 10:00AM ET.

• Crude prices gained further in Asia on Thursday as investors shrugged off bearish U.S. inventory reports. On the New York Mercantile Exchange, WTI crude for April delivery rose 0.40% to $34.80 a barrel. Brent rose 0.16% to $36.99 a barrel. Overnight, U.S. crude futures inched up on Wednesday remaining near one-month highs after a massive build in domestic inventories last week exacerbated concerns that top storage facilities nationwide could reach full storage capacity in the near-term future.

TRADING STRATEGY :
BUY GOLD ABOVE 1245 TARGET 1250 1256 SL 1239
SELL GOLD BELOW 1235 TARGET 1230 1224 SL 1241

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