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 biggest jump since Brexit vote on lower Fed rate bets

Gold held the biggest daily increase since June and traded near the highest in almost three weeks as the dollar weakened amid diminishing bets on an interest-rate rise in September.

Bullion for immediate delivery traded at US$1,349.16 an ounce at 9:37am in Singapore, after surging 1.7 per cent on Tuesday, the most since the results of the Brexit vote came out on June 24, according to Bloomberg generic pricing.

The metal resumed its rally this year on reduced chances of the Federal Reserve tightening monetary policy this month after the Institute for Supply Management's index of US non-manufacturing industries slumped to its lowest level since Feb 2010.

A gauge of the greenback traded at the lowest level this month. The Federal Open Market Committee meets on Sept 20-21.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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Gold holds monthly drop as payrolls in focus for data-driven Fed

Gold held last month's decline as investors await US jobs data due Friday for further clues on the timing of an interest rate increase.

Bullion for immediate delivery was little changed at US$1,309.70 an ounce at 9:15am in Singapore, according to Bloomberg generic pricing. The metal dropped to US$1,304.29 on Wednesday, the lowest level since June 24, and lost 3.1 per cent in August.

Gold's gains in 2016 have been dented after Federal Reserve officials indicated a greater likelihood of further monetary tightening before the end of the year.

Traders will scrutinise Friday's nonfarm payrolls report in light of Fed Vice Chairman Stanley Fischer'scomments on Tuesday that the central bank will base decisions at its Sept 21 meeting on economic data.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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