Oil rally continues as Brent tops US$50 a barrel

Oil prices continued to rally on Thursday with Brent oil topping US$50 a barrel following data showing lower US crude stockpiles.

Brent North Sea crude for delivery in October rose US$1.04 to US$50.89 a barrel in London, its first close above US$50 in nearly two months.

US benchmark West Texas Intermediate for September delivery gained US$1.43 to US$48.22 a barrel on the New York Mercantile Exchange.

Thursday's gains continued the upward trend in place for most of August, due in part to talk from Saudi Arabia and other producers that major oil exporters could agree to cap output next month.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Gold holds gain on speculation Federal Reserve won't raise rates this month

Gold held an advance after the US reported weaker-than-expected jobs data, reducing speculation the Federal Reserve may increase interest rates as soon as this month.

Bullion for immediate delivery was 0.1 per cent lower at US$1,323.66 an ounce at 9:25am in Singapore, according to Bloomberg generic pricing. The metal rose 0.9 per cent to US$1,325.21 on Friday, the highest level at close since Aug 23.

Gold has rallied 25 per cent this year as the Fed refrained from further tightening, benefiting bullion which doesn't offer returns, and as the Brexit vote and turmoil in financial markets pushed investors to haven assets.

American employers added 151,000 workers to nonfarm payrolls last month following a 275,000 gain in July, a Labor Department report showed Friday. The median forecast in a Bloomberg survey called for 180,000.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Gold treads water as all eyes on US Jobs data for Fed clues

Gold headed for a second weekly decline ahead of a key US payrolls report that's expected to give investors direction on the Federal Reserve's tightening path.

Bullion for immediate delivery was little changed at US$1,314.40 an ounce at 9:03am in Singapore, according to Bloomberg generic pricing. The metal is down 0.5 per cent this week after touching US$1,302.56 on Thursday, the lowest level since June 24.

Gold's recent declines have eroded its 2016 rally as traders price in a higher probability of an interest rate increase in the world's largest economy, damping the appeal of bullion, which doesn't offer yield.

The US nonfarm payrolls report later Friday will be important in determining whether the Fed will raise borrowing costs as soon as this month. US employers probably added 180,000 jobs in August, according to economists' estimates.
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Oil falls near US$47 a barrel as US crude rig count unchanged

Oil fell near US$47 a barrel as the number of US rigs drilling for oil remained unchanged and Royal Dutch Shell Plc said production isn't affected by storm preparations in the Gulf of Mexico.

Futures in New York dropped as much as 1.2 per cent after advancing 1.9 per cent over the previous two sessions on speculation informal Opec talks next month could result in some kind of output freeze.

A tropical depression near Florida, forecast to become a storm on Monday, is expected to move into the Gulf of Mexico, according to the National Hurricane Center.

West Texas Intermediate for October delivery fell as much as 59 US cents to US$47.05 a barrel on the New York Mercantile Exchange and traded at US$47.09 a barrel at 8 am Tokyo time.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Stocks Edge Higher After Fed Minutes

U.S. stocks rose slightly after minutes from the Federal Reserve’s July meeting shed little light on when the central bank might next raise interest rates.

The minutes showed Fed officials are seeking to keep their options open, with some of them wanting a rate increase but others pushing for more information.

The Dow Jones Industrial Average rose 21.92 points, or 0.1%, to 18573.94, reversing earlier losses. The S&P 500 added 4.07 points, or 0.2%, to 2182.22 and the Nasdaq Composite rose 1.55 points, or less than 0.1%, to 5228.66.

All three indexes are hovering near records, confounding some traders and analysts.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Singapore shares open lower on Thursday; STI sheds 0.7%

SINGAPORE shares opened lower on Thursday, with the Straits Times Index (STI) shedding 0.7 per cent or 20.48 points to 2,921.01 as at 9.03am.

Losers outnumbered gainers 83 to 42, or about two to one, after 98.9 million shares worth S$67.9 million had changed hands.


Offshore contractor Vallianz Holdings was an early mover, dropping 44.4 per cent or 1.6 Singapore cents to trade at two Singapore cents on the back of 13.6 million traded shares. The company announced late on Wednesday that non-executive chairman Raymond Goh had resigned for health reasons. Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Gold Market Update : Epic Research Singapore

Gold futures finished lower on Monday, extending losses from the previous session, as expectations for a U.S. Federal Reserve interest-rate increase later this year grow.

The Fed will conclude a two-day policy meeting Wednesday afternoon. While no monetary policy moves are expected, its statement will be watched closely for clues to future action.

Gold for August delivery on Comex GCQ6, -0.24%  fell $3.90, or 0.3%, to settle at $1,319.50 an ounce. Prices posted a second consecutive weekly loss on Friday as a stronger dollar and rising equities dulled its haven appeal. September silver SIU6, +0.02%  lost 4.2 cents, or 0.2%, at $19.647 an ounce.

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Gold Market Update : Epic Research Singapore

Gold futures managed to settle with a modest gain Thursday, during a rocky trading session that saw prices touch their lowest levels in about a month.

Weakness in the dollar and U.S. equities and expectations of accommodative central-bank policies combined to nudge gold prices higher.

August gold GCQ6, -0.67%  tacked on $11.70, or 0.9%, to settle at $1,331 an ounce. It saw a wide range of trading between a high of $1,332.30 and a low of $1,310.70, the weakest intraday price since June 23, according to FactSet data. It had settled Wednesday with a loss of 1% at $1,319.30. That close came just a day after gold marked its highest finish in nearly a week.

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Gold Market Update : Epic Research Singapore

Gold futures managed to settle with a modest gain Thursday, during a rocky trading session that saw prices touch their lowest levels in about a month.

Weakness in the dollar and U.S. equities and expectations of accommodative central-bank policies combined to nudge gold prices higher.

August gold GCQ6, -0.28%  tacked on $11.70, or 0.9%, to settle at $1,331 an ounce. It saw a wide range of trading between a high of $1,332.30 and a low of $1,310.70, the weakest intraday price since June 23, according to FactSet data. It had settled Wednesday with a loss of 1% at $1,319.30. That close came just a day after gold marked its highest finish in nearly a week.

Gold held its early gains after the European Central Bank took expected inaction on interest rates but said it would keep up its bond-buying stimulus. The metal then took a dip lower and climbed again.

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Gold Market Update : Epic Research Singapore

Gold and silver futures settled Wednesday at their lowest levels in about three weeks, as the dollar found traction on rate-hike expectations and U.S. stocks gained on the back of mostly upbeat earnings results.

“Haven” gold tends to move opposite the dollar and riskier stocks, but while gold has been choppy in recent sessions as stock indexes SPX, +0.43%  test records, the yellow metal remains underpinned by global growth uncertainty.

Read: Dow poised for 7th straight record as Microsoft rallies

August gold GCQ6, -0.42%  fell $13, or 1%, to settle at $1,319.30 an ounce. Prices, based on the most-active contracts, logged their lowest settlement since June 28, according to FactSet. That close comes just a day after marking its highest finish in nearly a week.

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Gold Market Update : Epic Research Singapore

Gold futures tiptoed higher in subdued action Tuesday, notching their best settlement in almost a week as some a pull back in U.S. stocks helped to support haven demand.

Gold has generally maintained its uptrend, but has been tracking stocks recently. Equities were trading mostly lower Tuesday by the time gold prices settled.

August gold GCQ6, +0.02%  rose $3, or 0.2%, to settle $1,332.30 an ounce—the highest settlement since last Wednesday. Prices of gold rose 0.1% on Monday, after falling some 2% last week amid stock-market gains and Bank of England inaction on interest rates. Still, over the previous six weeks, gold had settled higher weekly for a cumulative gain of nearly 12%.

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Gold Market Update : Epic Research Singapore

Gold futures settled narrowly higher on Monday, taking back some of last week’s decline, with investors showing caution after a failed weekend coup in Turkey.

Prices suffered a loss of 2.3% last week, their first weekly loss in nearly two months as record-high U.S. stocks and the Bank of England’s pass, for now, on cutting interest rates lured investors into riskier markets away from nonyielding gold.

“A coup attempt in Turkey late Friday that was quickly quashed, but not without violence, has not had a serious impact on the world marketplace,” said Jim Wyckoff, senior technical metals analyst at Kitco. “Traders and investors reckon the matter was an isolated incident.”

The city of Ankara shut down the coup attempt, but Turkish stocks fell sharply Monday and its currency, the lira USDTRY, +0.2015% weakened. That helped to underpin demand for gold.

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Gold Market Update : Epic Research Singapore

Gold futures snapped a six-week rally Friday, posting their first weekly loss in almost two months, as the world reacted to another gruesome terror attack in France.

August gold GCQ6, +0.41%  shed $4.80, or 0.4%, to settle at $1,327.40 an ounce on Friday, for a 2.3% drop on the week. Over the previous six weeks, gold had settled higher on a weekly basis for a cumulative gain of nearly 12%.

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Gold Market Update : Epic Research Singapore

Gold futures finished with a loss on Thursday, their fifth in six sessions, as global equities mostly climbed after the Bank of England surprised investors by opting not to cut benchmark interest rates.

Some analysts expected a rate cut in the wake of the U.K.’s decision to exit the European Union.

August gold GCQ6, -0.22%  fell $11.40, or 0.9%, to settle at $1,332.20 an ounce. Prices gained 0.6% on Wednesday after a four-session decline.

September silver SIQ6, -0.36%  eased by 9.1 cents, or 0.5%, to $20.322 an ounce. Silver futures settled near a two-year high on Wednesday.

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Gold Market Update : Epic Research Singapore

Gold futures turned in a third day of declines Monday, after an attempt to recoup recent losses fizzled in light of stronger U.S. stocks and the dollar.

Meanwhile, silver futures extended recent gains that lifted prices for seven out of the previous eight trading sessions.

A stronger-than-expected report on U.S. employment Friday prompted gold to end last week on a sour note. Gold and silver, however, still managed to each log a sixth-weekly gain as investors expect the metals’ rise to be underpinned by global economic uncertainty and what’s still anticipated to be a go-slow approach to interest-rate increases at the Federal Reserve.

August gold GCQ6, +0.07% settled down $1.80, or 0.1%, at $1,356.60 an ounce, after trading above $1,360 earlier in the session. Even with the recent declines, gold logged a weekly gain of 1.5% on Friday.

Silver, boosted both by hedging demand and for its use as an industrial commodity, settled higher. September silver SIU6, +1.01%  added 20.5 cents, or 1%, to finish at $20.304 an ounce, the highest settlement price since August 2014.

The SPDR Gold Trust ETF GLD, -0.94% was down 0.8%, while the iShares Silver Trust SLV, +0.42% tacked on 0.5%.

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Gold Market Update : Epic Research Singapore

Gold futures settled lower Thursday, pulling back after a three-session climb that lifted prices to their highest level in roughly two years.

The decline came as upbeat U.S. economic data triggered some uncertainty around U.S. interest-rate expectations, ahead of the closely watched monthly employment report due Friday.

August gold GCQ6, -0.36%  shed $5, or 0.4%, to settle at $1,362.10 an ounce. Gold futures had climbed over the past three trading session and closed on Wednesday at $1,367.10 an ounce, the best finish since March 2014, according to FactSet data.

September silver SIU6, -0.52%  dropped 36.5 cents, or 1.8% at $19.838 an ounce following Wednesday’s settlement at a roughly two-year high of $20.203.

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Gold Market Update : Epic Research Singapore

Gold futures rallied to settle at a fresh two-year high on Wednesday, while silver rose for a sixth straight session to top $20 an ounce.

Prices for both metals had benefitted from a rush to safety sparked by uncertainty surrounding the U.K. vote late last month to leave the European Union. In electronic trading, gold futures extended their gains after minutes from the U.S. Federal Reserve’s last meeting implied that an interest-rate hike remained on hold.

August gold GCQ6, +0.26%  gained $8.40, or 0.6%, to settle at $1,367.10 an ounce, again marking their highest settlement since March 2014, according to FactSet data.

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Gold Market Update : Epic Research Singapore

Gold futures rose Monday, building on their recent gains spurred by the U.K.’s decision to exit the European Union.

August gold GCQ6, +0.49%  climbed $15.20, or 1.1%, to $1,354.20 an ounce, while September silver SIU6, +1.77%  jumped by 98 cents, or 5%, to $20.57 an ounce.

On Friday, gold settled 1.4% higher for the session, finishing with an advance of 1.3% for the week and achieving its fifth straight weekly gain.

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Gold Market Update : Epic Research Singapore

August gold GCQ6, +1.84%  gained $18.40, or 1.4%, to settle at $1,339 an ounce, with futures marking the highest close since July 10, 2014. Trading was choppy this week, but prices saw a 1.3% weekly gain, according to FactSet data, after posting a nearly 7% climb for the second quarter.

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Gold Market Update : Epic Research Singapore

Gold futures finished lower on Thursday, as so-called riskier assets lured investors away from the metal, but still scored a second-straight quarterly gain to leave the yellow metal up nearly 25% in the first half of the year.

August gold GCQ6, +0.74%  fell $6.30, or 0.5%, to settle at $1,320.60 an ounce, pulling back a day after futures prices marked their highest close since July 11, 2014.

After spotty, post-Brexit volatility, prices have turned slightly lower for the week so far. But they were up about 6.9% for the second quarter and have climbed 24.6% since the end of 2014, according to FactSet data.

Silver has been the standout gainer among the metals over recent sessions, and Thursday was no exception; silver posted slim gains on the heels of a steep Wednesday advance.

September silver SIU6, +2.18%  gained 21.6 cents, or 1.2%, at $18.623 an ounce—the highest settlement since mid-September of 2014. Futures prices are up roughly 20% for the quarter and up about 35% year to date.

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