INTERNATIONAL COMMODITY NEWS :

• Oil prices inched higher in cautious European trade on Thursday, as investors remained on edge ahead of the U.K. vote on whether to leave the European Union.The vote on a potential Brexit was set to take place between 6:00GMT, or 7:00AM London time, and 21:00GMT, or 10:00PM in London, with results expected early Friday morning.

• Gold futures struggled for direction near two-week lows in European trade on Thursday, as U.K. voters go to the polls for a referendum on European Union membership.The vote on a potential Brexit was set to take place between 6:00GMT, or 7:00AM London time, and 21:00GMT, or 10:00PM in London, with results expected early Friday morning.

• Zinc futures were trading lower during noon trade in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Further traders are nervously eying the outcome of the EU referendum today with British voters deciding whether to keep their country in the trade block or exit the European Union.

ECONOMY NEWS :

• A top Federal Reserve policymaker said on Thursday he is not advocating for interest rate hikes at this point and instead wants to “show more patience” waiting for the U.S. economy to show clearer signs of improvement. Dallas Fed President Robert Kaplan, speaking as results trickled in from Britain’s referendum on membership in the European Union, said he was concerned about the vote because the result could stress international trade, which could hurt global economic growth.

• Bank of Japan policymakers remained deeply divided on whether to expand or scale back its massive stimulus program as they struggled to address weak inflation with a dwindling range options, a summary of opinions from a June rate review showed on Friday.While the rift has existed ever since BOJ Governor Haruhiko Kuroda deployed his huge asset-buying program in 2013, it is becoming more evident as dissenters to negative interest rates openly criticize the governor’s radical policies.

• U.S. fund investors pulled out of riskier markets over the last week, data from Lipper showed on Thursday, as they braced for a British vote on its European Union membership even as stocks rallied.Investors pulled $6.1 billion from U.S.-based stock funds during the weekly period ended June 22, the data showed. That was the most pulled from the funds since the week ended May 4.

TRADING STRATEGY :

• BUY GOLD ABOVE 1270 TARGET 1275 1281 SL 1265
• SELL GOLD BELOW 1256 TARGET 1251 1245 SL 1261

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

INTERNATIONAL COMMODITY NEWS :

• Oil rose further above $50 a barrel on Wednesday supported by an industry report that showed a large drop in U.S. crude inventories and a boost in investor risk appetite ahead of Britain’s referendum on EU membership.U.S. crude inventories fell by 5.2 million barrels, the American Petroleum Institute (API) said on Tuesday, far more than analysts expected.

• Gold futures extended losses from the prior session in European trade on Wednesday, falling to the lowest level in almost two weeks as investors looked ahead to Thursday’s highly-anticipated referendum on whether Britain will choose to remain in the European Union. Gold for August delivery on the Comex division of the New York Mercantile Exchange fell to an intraday low of $1,263.80 a troy ounce, the weakest since June 9.

• U.S. natural gas futures rose to a new nine-month high on Tuesday, as forecasts for continued above-normal temperatures across most parts of the U.S. throughout most of summer raised expectations for power generation demand to meet air conditioning needs. Updated forecasts released Monday said temperatures in the Midwest and eastern seaboard will be warmer than previously expected going into the July 4 holiday weekend.

ECONOMY NEWS :

• The International Monetary Fund said on Wednesday the U.S. economy was “overall in good shape,” with growth set to regain momentum despite an overvalued dollar, but it warned that too many Americans were dropping out of the workforce or living in poverty. The IMF expects U.S. economic growth of 2.2 percent in 2016, a downgrade from 2.4 percent it forecast in April. But the Fund maintained its outlook for growth to recover to 2.5 percent in 2017, with inflation rising slowly toward the Federal Reserve’s goal of two percent, it said in a statement at the conclusion of its annual review of U.S. economic policies.

• The European Central Bank reinstated Greek banks’ access to its cheap funding operations on Wednesday after more than a year on an emergency lifeline and said it would examine later whether to add Greek debt to its asset purchases. The restoration is a big step toward normalizing an economy that is still in recession, weighed down by capital controls and adjustments related to Greece’s third bailout since 2010, agreed last year and worth up to 86 billion euros ($97 billion).

• Federal Reserve Chair Janet Yellen said she has not scheduled special meetings for Friday or Saturday in order to respond to the “Brexit” vote in Britain over its membership in the European Union.”Brexit is a risk that we are monitoring. We will be watching closely to see what the vote is and what possible repercussions it might have,” Yellen told lawmakers on Wednesday ahead of Britain’s vote scheduled for Thursday, adding in response to a question over whether she has special meetings scheduled: “No, I have not.”

TRADING STRATEGY :

• BUY GOLD ABOVE 1270 TARGET 1275 1281 SL 1265
• SELL GOLD BELOW 1260 TARGET 1255 1249 SL 1265

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

INTERNATIONAL COMMODITY NEWS :

• Oil prices pushed lower in European trade on Tuesday, falling for the first time in three days as market players looked ahead to fresh weekly information on U.S. stockpiles of crude and refined products.Crude oil for August delivery on the New York Mercantile Exchange shed 23 cents, or 0.46%, to trade at $49.73 a barrel by 07:53GMT, or 3:53AM ET, after soaring $1.40, or 2.88%, a day earlier.

• Gold futures extended losses from the prior session in European trade on Tuesday, as investors awaited testimony by Federal Reserve Chair Janet Yellen while looking ahead to Thursday’s highly-anticipated referendum on whether Britain will choose to remain in the European Union.Gold for August delivery on the Comex division of the New York Mercantile Exchange dipped $5.15, or 0.4%, to trade at $1,286.85 by 06:44GMT, or 2:44AM ET. A day earlier, gold shed $2.70, or 0.21%.

• Lead futures fell during evening trade in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid sluggish physical demand for Lead by battery-makers in the domestic spot market.Traders also stuck to a cautious approach ahead of the crucial EU referendum on Thursday in which Britain will vote whether to break away from the European Union a move which could hurt the global economy and dampen the appetite for risky assets including commodities and push up the dollar with which metals have an inverse relationship.

ECONOMY NEWS :

• Hedge funds, banks and insurance companies have recently jumped into “marketplace lending,” drawing the attention of U.S. regulators, who said on Tuesday they are concerned that borrowing by consumers and small businesses through online platforms may pose risks to U.S. financial stability.In its annual review of the U.S. financial system released on Tuesday, the Financial Stability Oversight Council (FSOC) consisting of all the country’s financial regulatory chiefs, also said it is watching events overseas, including this week’s “Brexit” vote and the turmoil in Venezuela. It also noted that China “is in the midst of long-term transitions in its economy,” which could have global implications.

• Janet Yellen rebuffed any speculation that the Federal Reserve could provide emergency lending to Puerto Rico on Tuesday, telling Congress that any bailout to the debt-ridden commonwealth appears to be outside the U.S. central bank’s authority. “This is inherently a matter for Congress and is not something that’s appropriate for the Federal Reserve,” Yellen said in testimony before the Senate Banking Committee.

• Financial markets need to consider the risks of relying heavily on the dollar-based London Interbank Offer Rate because this reference rate could stop being published, Federal Reserve Governor Jerome Powell said on Tuesday as a Fed-convened committee continued to zero in on an alternative to the so-called Libor.”Market participants are not used to thinking about this possibility, but benchmarks sometimes come to a halt,” Powell said in prepared remarks in New York for a roundtable discussion on a report on alternative reference rates.

TRADING STRATEGY :

• BUY GOLD ABOVE 1272 TARGET 1277 1283 SL 1267
• SELL GOLD BELOW 1269 TARGET 1264 1258 SL 1274

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