INTERNATIONAL COMMODITY NEWS :

• Aluminium futures were trading higher during the afternoon trade in the domestic market on Wednesday as speculators widened their bets amid increase in physical demand for aluminium in the domestic spot market after improving risk appetite on stronge US jobs data and hopes of more monetary stimulus from the central banks.

• Copper futures jumped by more than 1.5 per cent during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal as expectations of global economic stimulus and geographical uncertainty surrounding the South China Sea after an international tribunal’s ruling that China had no territorial claims to it boosted the demand for the raw material.

• Silver futures rallied by more than 1 per cent during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal tracking a bullish trend in the overseas market amid speculation of increased policy losing across the globe in the wake of Brexit bolstering the lure for the bullion a hedge against the inflationary risk of monetary stimulus.

ECONOMY NEWS :

• Sterling’s plunge since Britain voted to leave the European Union was the biggest in more than 40 years, but its boost to UK exports may well be far less than after similar tumbles in 1992 and 2008.A fragile world economy, more complex world supply chains and near-zero Bank of England interest rates mean Britain may be less able to take advantage of its more competitive exchange rate.

• Brazil’s lower congressional house passed a plan late on Tuesday to allow workers to use part of their severance benefit as collateral for loans in a bid to rekindle demand for credit in the recession-stricken economy.The measure aims to unleash billions of reais in new so-called payroll deductible loans using severance from the FGTS compulsory savings program as a guarantee.

• Britain’s economic prospects will improve after Brexit, the founder of pubs group JD Wetherspoon (L:JDW) said on Wednesday, lashing out at the “irresponsible doom-mongering” of politicians, banks and company bosses in the run up to the referendum.Tim Martin, who chairs the company, was a prominent campaigner for Britain to leave the European Union, appearing in television debates before the June 23 vote and distributing half a million beer mats challenging statistics used by the government.

TRADING STRATEGY :

• BUY GOLD ABOVE 1344 TARGET 1349 1355 SL BELOW 1339
• SELL GOLD BELOW 1336 TARGET 1331 1325 SL ABOVE 1341

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INTERNATIONAL COMMODITY NEWS :

• Gold prices inched up in European trade on Monday, hovering below a 28-month high amid speculation the Federal Reserve will remain cautious on interest rates despite last week’s strong jobs report.Gold for August delivery on the Comex division of the New York Mercantile Exchange tacked on $5.45, or 0.4% to trade at $1,363.85 a troy ounce by 06:50GMT, or 2:50AM ET.

• Oil fell on Monday over signs that U.S. shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia where refiners are already trimming crude runs.Brent crude was trading at $46.26 per barrel at 0942 GMT (5.42 a.m. ET), down 50 cents from its last settlement.

• Silver futures rallied during noon trade in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal tracking a bullish trend in the overseas market amid speculation that the US Federal Reserve may not raise interest rates in the near-term despite Friday’s robust jobs data as it assesses rising global economic uncertainty in the aftermath of Brexit and awaits more signs of a pickup in the world’s biggest economy.

ECONOMY NEWS :

• South Korea’s central bank is seen taking a breather on Thursday and keeping rates untouched after it cut them to a record low in June, but is expected to resume easing in coming months, a Reuters poll found on Tuesday. Twenty-eight of 29 analysts surveyed said the Bank of Korea would leave interest rates at 1.25 percent. One forecast a cut to 1.0 percent.

• Italy’s economy will grow by less than one percent this year and only marginally faster in 2017, the International Monetary Fund said on Tuesday, cutting its previous forecasts as a result of Britain’s decision to leave the European Union. The outcome of last month’s referendum in Britain has heightened volatility on financial markets and increased downside risks for Italy, the Fund said in a report following its annual Article IV meetings with the Italian authorities.

• The yen hovered near a one-week low against the dollar on Tuesday, in the wake of a weekend election victory by Japan’s ruling coalition that fanned expectations of more economic stimulus including possible monetary easing.Gains in equity markets and an improvement in risk sentiment also weighed on the safe-haven yen, which rallied after Britain’s vote to leave the European Union and adding to worries over global growth.

TRADING STRATEGY :

• BUY GOLD AROUND 1352 TARGET 1356 1360 SL 1349.90
• SELL GOLD AROUND 1360 TARGET 1356 1352 SL 1361.25

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

INTERNATIONAL COMMODITY NEWS :

• Gold prices slid lower on Friday, as investors awaited the highly-anticipated U.S. employment report due later in the day, but the precious metal remained close to Wednesday’s two-year peak as concerns over the global impact of the Brexit vote continued to dampen sentiment.On the Comex division of the New York Mercantile Exchange, gold futures for August delivery declined 0.36% to $1,357.35.

• Oil prices rebounded on Friday, bouncing off two-month lows hit in the previous session when prices fell 5 percent on news that the U.S. weekly crude draw missed some forecasts.Traders said that the outlook looked volatile as a refined product glut and slowing economic growth weighed on markets while the risk of supply disruptions could tighten supplies.

• Silver futures were trading lower during noon trade in the domestic market on Friday as traders resorted to a cautious approach ahead of the much anticipated US payrolls data for the month of June set for release today which may dictate the timing of the US Federal Reserve’s next interest rate hike.

ECONOMY NEWS :

• The global economic situation is grim and major economies must lead the way in tackling problems including sluggish growth and weak trade, China’s trade minister Gao Hucheng said on Saturday. Gao made the remarks at the start of a two-day meeting of trade ministers from G20 economies in Shanghai, as uncertainty hangs over the outlook for a slow-growing global economy now beset by post-Brexit reverberations.

• U.S. President Barack Obama said on Saturday he expected Britain to go through with leaving the European Union after last month’s referendum and was concerned to limit the damage to the British, European and global economies from the move.As a friend, ally and trading partner of Britain and of the EU, he said Washington wanted to see an orderly negotiating process and as close a relationship as possible in future.

• As China’s medical bills rise steeply, outpacing government insurance provision, patients and their families are increasingly turning to loans to pay for healthcare, adding to the country’s growing burden of consumer debt.While public health insurance reaches nearly all of China’s 1.4 billion people, its coverage is basic, leaving patients liable for about half of total healthcare spending, with the proportion rising further for serious or chronic diseases such as cancer and diabetes.

TRADING STRATEGY :

• BUY GOLD ABOVE 1370 TARGET 1375 1381 SL BELOW 1365
• SELL GOLD BELOW 1360 TARGET 1355 1349 SL ABOVE 1365

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.