SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Silver futures climbed during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal after Chicago Fed President Charles Evans backed Fed Chair Janet Yellen as he expressed concerns over global volatility that could slow US growth diminishing the chances of further rate tightening in the near-term bolstering the lure for the bullion as a store of value.

• Copper futures fell during noon trade in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid uncertainty over demand from China the world’s biggest metals consuming nation.According to a Bloomberg Intelligence analysis of property data China’s non-industrial use of copper mainly construction has been overstated by nearly 15.5 million metric tons since 2011.

• Crude oil prices fell by 1.06 per cent on Thursday with US crude hitting the lowest level in more than two weeks amid renewed worries of global oversupply after US crude inventories rose to a record high. That increase came despite seasonal refinery utilization hitting an 11-year high while a rise in the dollar index put further pressure on oil prices.

TRADING STRATEGY :
BUY GOLD ABOVE 1237 TARGET 1242 1248 SL BELOW 1232
SELL GOLD BELOW 1231 TARGET 1226 1220 SL ABOVE 1236

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