SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold prices rose by 0.14 per cent on Monday as a weaker dollar raised the appeal of gold as an alternative asset. Weaker greenback makes the bullion cheaper for those holding other currencies thus increasing demand. At the MCX Gold futures for April 2016 contract is trading at Rs 28080 per 10 gram up by 0.14 per cent after opening at Rs 28080 against the previous closing price of Rs 28040. It touched the intra-day high of Rs 28123.

•  Copper futures retreated during noon trade in the domestic market on Monday tracking a bearish global trend as robust US jobs data for March raised concerns that the US Federal Reserve may hike interest rates in the near-term while worries over the demand outlook from China the world’s biggest metals consuming nation remained.

• Crude oil prices fell by 1.83 per cent on Monday as the chances of Middle East producers agreeing to curb overproduction appeared to fade while stubbornly high US output and worries about Asia’s economic outlook also dragged on prices. At the MCX crude oil futures for April 2016 contract were trading at Rs. 2418 per barrel down by 1.83 per cent after opening at Rs. 2457 against the previous closing price of Rs. 2463.

TRADING STRATEGY :
BUY GOLD ABOVE 1218 TARGET 1223 1229 SL 1212
SELL GOLD BELOW 1214 TARGET 1209 1203 SL 1220

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