Oil prices up in Asia on Russia-Saudi talks

Crude prices rose in Asia on Tuesday after Russia and Saudi Arabia pledged to work on addressing a global supply glut, but analysts said gains would likely be limited after the two sides provided scant detail about their plans.

Saudi Energy Minister Khaled Al-Falih and his Russian counterpart Alexander Novak agreed to "act together" to steady the market but stopped short of agreeing to a production freeze.

On the sidelines of the G-20 summit in China, the ministers said they will act "together or in cooperation with other oil productions" and agreed to set up a "joint monitoring group" to offer recommendations to prevent price fluctuations.

News that the two sides were about to make an announcement sent both contracts soaring Monday but the gains were all but wiped out after the statement.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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China home prices rise 7.9% year on year in July

Average new home prices in China's 70 major cities rose 7.9 per cent in July from a year earlier, an official survey showed on Thursday.

That compared with a 7.3 per cent increase in June.

Home prices in Shenzhen and Xiamen had the biggest surge, rising 40.9 per cent and 39.2 per cent, respectively, from a year ago.

The booming property market has been a key driver of China's economic growth in the first half of the year as weak demand at home and abroad continue to take a toll on trade and investment.

But concerns are growing that the property rebound may be coming to an end as local governments tighten restrictions on home purchases to cool sharp price rises, which are sparking fears of asset bubbles.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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Gasoline Market Update : Epic Research Singapore

Back on Nymex on Monday, August gasoline RBQ6, +0.04%  fell 2.8 cents, or 2.1%, to $1.334 a gallon and August heating oil HOQ6, +0.49%  lost 3.4 cents, or 2.5%, to $1.323 a gallon.

August natural gas NGQ16, -1.20%  ended at $2.747 per million British thermal units, down 3 cents, or 1.1%.

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Oil Market Update : Epic Research Singapore

Oil futures settled Monday at their lowest level in three months as the prospect of more oil-drilling activities in the U.S., a glut of petroleum-product supplies and an expected slowdown in domestic refining activities renewed worries that inventories of crude will continue to outpace consumption.

“Supply continues to return from disruptions, refined products are severely oversupplied, crude demand is falling well short of product demand and key product demand is decelerating,” analysts at Morgan Stanley said in a note dated Sunday.

September West Texas Intermediate crude CLU6, +0.23% fell $1.06, or 2.4%, to settle at $43.13 a barrel on the New York Mercantile Exchange. That was the weakest settlement for a most-active contract since April 25, according to FactSet data. September Brent crude LCOU6, +0.42%  on London’s ICE Futures exchange fell 97 cents, or 2.1%, to $44.72 a barrel.

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Platinum Market Update : Epic Research Singapore

Other metals traded on Comex settled mixed. October platinum PLV6, -0.10%  ended flat at $1,088.40 an ounce, while September palladium PAU6, -0.80%  added $2.70, or 0.4%, to $688.75 an ounce. September copper HGU6, -0.18% slipped 1.9 cents, or 0.8%, to $2.217 a pound.

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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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Oil Market Update : Epic Research Singapore

Oil futures lost more than 2% on Thursday, pressured by ample U.S. stockpiles of gasoline, as well as recent slowdowns in domestic crude production declines.

Meanwhile, prices for natural-gas recouped about half of what they lost a day earlier, after a U.S. government report revealed a weekly increase in supplies of the commodity that was below some market expectations.

September West Texas Intermediate crude CLU6, -1.09%  fell $1, or 2.2%, to settle at $44.75 a barrel on its first full trading day on the New York Mercantile Exchange as a front-month contract. The contract gained 0.7% on Wednesday. September Brent crude LCOU6, -1.00%  London’s ICE Futures exchange lost 97 cents, or 2.1%, to $46.20 a barrel.

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Silver Market Update : Epic Research Singapore

Meanwhile, September silver SIU6, -0.63% tacked on 20.2 cents, or 1%, to $19.815 an ounce to recoup about half of what it lost on Wednesday, when it ended at $
19.613—the lowest settlement since July 1, according to FactSet.

Among the exchange-traded funds, the SPDR Gold Trust GLD, -0.75%  was up 1.3% as of gold’s settlement, while the VanEck Vectors Gold Miners ETF GDX, -0.31%  gained 3.5%.

September copper HGU6, -1.00%  added a half a cent to $2.259 a pound, October platinum PLV6, -1.75%  climbed $16.50, or 1.5%, to $1,108 an ounce and September palladium PAU6, -0.01%  finished at $685.45 an ounce, up $9.45, or 1.4%.

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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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Natural Gas Market Update : Epic Research Singapore

Back on Nymex, August gasoline RBQ6, +0.24%  fell nearly a penny, or 0.6%, to end at $1.355 a gallon, with futures prices at their lowest since March. August heating oil HOQ6, +0.39%  fell 3.5 cents, or 2.5%, to $1.371 a gallon.

August natural gas NGQ16, -0.71%  tacked on 3.4 cents, or 1.3%, to $2.692 per million British thermal units. The EIA said Thursday that supplies rose 34 billion cubic feet for the week ended July 15. That was below the average rise of 40 billion cubic feet expected by analysts polled by S&P Global Platts.

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Oil Market Update : Epic Research Singapore

Oil futures lost more than 2% on Thursday, pressured by ample U.S. stockpiles of gasoline, as well as recent slowdowns in domestic crude production declines.

Meanwhile, prices for natural-gas recouped about half of what they lost a day earlier, after a U.S. government report revealed a weekly increase in supplies of the commodity that was below some market expectations.

September West Texas Intermediate crude CLU6, +0.18%  fell $1, or 2.2%, to settle at $44.75 a barrel on its first full trading day on the New York Mercantile Exchange as a front-month contract. The contract gained 0.7% on Wednesday. September Brent crude LCOU6, +0.32%  London’s ICE Futures exchange lost 97 cents, or 2.1%, to $46.20 a barrel.

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Silver Market Update : Epic Research Singapore

Meanwhile, September silver SIU6, -0.10% tacked on 20.2 cents, or 1%, to $19.815 an ounce to recoup about half of what it lost on Wednesday, when it ended at $19.613—the lowest settlement since July 1, according to FactSet.

Among the exchange-traded funds, the SPDR Gold Trust GLD, +1.52%  was up 1.3% as of gold’s settlement, while the VanEck Vectors Gold Miners ETF GDX, +3.14%  gained 3.5%.

September copper HGU6, -0.51%  added a half a cent to $2.259 a pound, October platinum PLV6, -0.43%  climbed $16.50, or 1.5%, to $1,108 an ounce and September palladium PAU6, -0.23%  finished at $685.45 an ounce, up $9.45, or 1.4%.

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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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Gasoline Market Update : Epic Research Singapore

On Nymex, August gasoline RBQ6, +0.18%  lost 1.2 cents, or 0.9%, to $1.364 a gallon, while August heating oil HOQ6, +0.27%  added 2.1 cents, or 1.5%, to $1.405 a gallon.

August natural gas NGQ16, -0.45%  ended at $2.658 per million British thermal units, down 7 cents, or 2.6%.

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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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