Oil Market Update : Epic Research Singapore

Oil futures finished higher Wednesday, after data from the U.S. government revealed that crude stockpiles fell for a ninth week in a row, and by more than the market expected.

August West Texas Intermediate crude CLQ6, +0.45%  added 29 cents, or 0.7%, to settle at $44.94 a barrel on the New York Mercantile Exchange. The contract, which expired at Wednesday’s finish, was trading at $44.16 before the supply data. September WTI crude, which became the front-month contract, settled at $45.75, up 30 cents, or 0.7%.

September Brent crude LCOU6, +0.15% on London’s ICE Futures exchange rose 51 cents, or 1.1%, to $47.17 a barrel.

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Silver Market Update : Epic Research Singapore

Silver is correcting “more violently as gold, as the white metal historically trades more volatile than its yellow counterpart,” said Pantelis. “We don’t see precious metals entering a big correction, but mostly consolidation over the summer months, so this counts for silver too.”

Silver prices, which are supported by hedging and industrial-use demand, are still up about 5.1% month to date, while gold has seen a 0.2% decline for the month so far.

Based on the current gold/silver price ratio, Pantelis believes that the price of silver is still acting in favor of gold.

Meanwhile, September copper HGU6, +0.27%  fell just under a cent to $2.254 a pound. October platinum PLV6, -0.96%  shed $7.10, or 0.7%, to $1,091.50 an ounce. September palladium PAU6, -0.98%  added $19.60, or 3%, to $676 an ounce.

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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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'Vital statistics' that add up to a successful CEO

Honesty, humility and trustworthiness are important factors that can affect business success, according to Frasers Centrepoint chief executive Lim Ee Seng last night.

Mr Lim's views will carry extra weight, given that he clinched the gold award for best chief executive of a company with a market capitalisation of at least $1 billion.

Mr Lim, 65, told The Straits Times on the sidelines of the Singapore Corporate Awards 2016 at Resorts World Convention Centre that capability, strategy and luck are critical as well.

"There are many factors affecting strategy, so there is luck that affects you, that can work in your favour. You don't have absolute control but you must be able to minimise risk," he added.

"As a CEO, there is a heavy responsibility as far as shareholders, staff and the public are concerned, particularly for listed companies, as you need to have tangible results which the company can achieve, adding value to not just shareholders, but also contributing to the public, to industry and to the environment for us in the real estate industry."

The key challenge he has faced in his 40 years in the real estate business is the cyclical nature of the sector. "Whatever goes up must come down; whatever goes down must come up. More importantly, you need to have faith in the country in which you are investing in," he said.

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Bourse's attempts to reopen market hit by problems in orders and trade confirmation process

The longest trading disruption in the Singapore Exchange's (SGX) history was triggered by disk failure and a software application that did not detect the problem.

Compounding the situation, attempts to reopen the market last Thursday were stymied by problems in the orders and trade confirmation process, the SGX disclosed yesterday.

Trading was halted for over five hours that day after the discovery of a technical fault that resulted in some clearing messages not being generated and some trade confirmation messages being duplicated.

The hardware was supplied by computer giant and IT firm Hewlett- Packard (HP), while the software application was from United States stock exchange Nasdaq.

SGX chief executive Loh Boon Chye told reporters yesterday that the root cause was "a faulty disk that runs the applications that generates trade confirmation messages".

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Market highlights

1 Gold edged higher yesterday as European shares hit a one-week low after data that showed Britain's vote on European Union membership dented German business confidence.

2 Goldman Sachs posted a 74 per cent rise in second-quarter profit as legal costs fell and fixed-income revenue surpassed analyst estimates. Net income rose to US$1.82 billion (S$2.5 billion), Bloomberg reported.

3 DMX Technologies said Anken HR has filed a writ of summons in the Hong Kong court, claiming $55,000, the fee due Mr Daniel Kung, a former independent director. DMX will defend the claim.

4 Manufacturing Integration Technology expects a net loss for the six months to June 30 due to the weak global market and the weakening of the US dollar against the Singdollar.

5 Ornamental fish supplier Qian Hu said profit for the quarter ended June 30 was up 25 per cent to $15,000. Revenue fell 4.6 per cent to $19.1 million.

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Gasoline Market Update : Epic Research Singapore

On Nymex, futures prices for August gasoline RBQ6, +0.11%  ended at $1.376 a gallon, down 1.2 cents, or 0.8%, while August heating oil HOQ6, +0.04%  rose less than a cent to $1.384 a gallon.

August natural gas NGQ16, -0.40%  also added less than a penny to $2.728 per million British thermal units.

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Oil Market Update : Epic Research Singapore

Oil futures fell Tuesday, with the U.S. benchmark settling at a 10-week low.

Traders fretted over ample inventories of crude and petroleum products and the potential for a slowdown in energy demand on the back of a lower global economic outlook from the International Monetary Fund.

August West Texas Intermediate crude CLQ6, -0.04%  fell 59 cents, or 1.3%, to settle at $44.65 a barrel on the New York Mercantile Exchange, after losing 1.6% a day earlier. That’s the lowest close since May 9. The August WTI contract expires at Wednesday’s settlement, which often fuels trading volatility.

September Brent crude LCOU6, +0.06%  on London’s ICE Futures exchange fell 30 cents, or 0.6%, to end at $46.66 a barrel.

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Copper Market Update : Epic Research Singapore

On Comex Tuesday, September copper HGU6, -1.04% rose 2.6 cents, or 1.2%, to $2.263 a pound. October platinum PLV6, -0.56%  fell $3, or 0.3%, to $1,098.60 an ounce. September palladium PAU6, -0.20% added $10.35, or 1.6%, to $656.40 an ounce.

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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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Gasoline Market Update : Epic Research Singapore

Back on Nymex, prices for refined oil products also ended lower. August gasoline RBQ6, +0.06%  fell 3.5 cents, or 2.5%, to $1.387 a gallon and August heating oil HOQ6, +0.07%  settled at $1.378 a gallon, down 2 cents, or 1.4%.

August natural gas NGQ16, +0.59%  fell 3.4 cents, or 1.2%, to $2.722 per million British thermal units.

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Oil Market Update : Epic Research Singapore

Oil futures settled lower on Monday, losing more than 1% as traders dismissed worries of supply disruptions from the attempted coup in Turkey.

August West Texas Intermediate crude CLQ6, -0.42%  fell 71 cents, or 1.6%, to settle at $45.24 a barrel on the New York Mercantile Exchange. It had traded as high as $46.14 overnight, according to FactSet. September Brent crude LCOU6, -0.32%  on London’s ICE Futures exchange declined by 65 cents, or 1.4%, to $46.96 a barrel.

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Silver Market Update : Epic Research Singapore

On Comex, September silver SIU6, -0.45% ended down 9 cents, or 0.5%, at $20.075 an ounce, but prices were still up about 7.8% month to date. Unlike gold, the white metal finished with a seventh week of gains on Friday. Silver futures midweek had settled near a two-year high due to both haven and industrial-use demand.

September copper HGU6, -0.11% rose less than half a cent to $2.237 a pound. October platinum PLV6, -0.46%  added $7.20, or 0.7%, to $1,101.60 an ounce. September palladium PAU6, -0.53% shed $1.35, or 0.2%, to $646.05 an ounce.

Among the exchange-traded funds, the SPDR Gold Trust GLD, +0.16%  traded nearly flat, while the VanEck Vectors Gold Miners ETF GDX, +0.37%  lost 0.4%.

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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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Silver Market Update : Epic Research Singapore

Meanwhile, September silver SIU6, -0.13% which has tended to uncouple from gold in recent sessions, eased 15.7 cents, or 0.8%, to settle at $20.165 an ounce, but, unlike gold, finished with a seventh week of gains, rising 0.3%.

Silver futures pulled back in Thursday trading after settling near a two-year high on Wednesday due to both haven and industrial-use demand.

September copper HGU6, -0.45%  fell 1 cent to settle at $2.234 a pound, up about 5.5% for the week. October platinum PLV6, -0.51%  shed $10.20, or 0.9%, to settle at $1,094.40 an ounce, with prices down 0.6% for the week. September palladium PAU6, -0.15%  settled at $647.40 an ounce, down $3.70, or 0.6%. It was ready to notch a weekly gain of 4.9%.

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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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Gasoline Market Update : Epic Research Singapore

On Nymex Thursday, August gasoline RBQ6, -0.60%  climbed 3.6 cents, or 2.6%, to $1.414 a gallon and August heating oil HOQ6, -0.43%  finished up 2.6 cents, or 1.9%, to $1.406 a gallon.

August natural gas NGQ16, -0.07%  fell a penny, or 0.4%, to settle at $2.727 per million British thermal units after the U.S. Energy Information Administration reported that supplies of the commodity rose 64 billion cubic feet for the week ended July 8. Analysts polled by S&P Global Platts expected an average rise of 60 billion cubic feet.

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Oil Market Update : Epic Research Singapore

Oil futures settled higher on Thursday to recoup nearly half of what they lost a day earlier, as traders held out hope that the recent price declines will help keep crude production at bay.

The dollar-denominated commodity also got an added boost after the Bank of England’s surprise decision to leave its key interest rate at a record low lifted the British pound GBPUSD, +0.8243% putting some pressure on the U.S. dollar.

August West Texas Intermediate crude CLQ6, -0.53%  rose 93 cents, or 2.1%, to settle at $45.68 a barrel on the New York Mercantile Exchange. Week to date, it has gained about 0.6% but was down nearly 6% for the month so far. September Brent crude LCOU6, -0.46%  on London’s ICE Futures exchange rose $1.11, or 2.4%, to end at $47.37 a barrel.

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Platinum Market Update : Epic Research Singapore

Elsewhere in metals, October platinum PLV6, -0.06%  rose $4.40, or 0.4%, to $1,104.60 an ounce, while September palladium PAU6, +0.28% edged up $6.90, or 1.1%, to $651.10 an ounce. September copper HGU6, +0.02%  added less than half a cent to $2.243 a pound.

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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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