SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold prices were trading flat on Wednesday with investors keyed to Federal Reserve remarks ahead. Investors also await a wave of public comments from key Federal Reserve policymakers including Yellen on Thursday for further signals on the pace of the Fed’s current tightening cycle.

• Crude oil prices rose by 3.19 per cent on Wednesday after a bullish US industry group inventory estimate showed a sharp drop in stocks and an upbeat services PMI from China. The American Petroleum Institute said crude oil stock fell 4.3 million barrels at the end of last week while distillates stocks rose 2.7 million barrels and gasoline stock fell 116000 barrels.

• Natural Gas futures fell by 3 per cent in the domestic market on Tuesday reversing Monday’s rally which was driven by hopes that a surprise cold snap may bolster the demand for the heating fuel in the US the world’s biggest gas consumer.Traders were cautious ahead of the weekly US supplies data which may offer a further insight into the state of demand for the energy commodity in the US.

TRADING STRATEGY :
BUY GOLD ABOVE 1228 TARGET 1233 1239 SL 1223
SELL GOLD BELOW 1223 TARGET 1218 1212 SL 1228

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