Gold treads water as investors count down to Yellen's address

Gold is treading water before a speech by Federal Reserve Chair Janet Yellen on Friday that may shed light on the U.S. central bank's tightening path, with prices closing within a US$4 range since Friday.

Bullion for immediate delivery was at US$1,337.07 an ounce at 3:13 pm in Singapore, according to Bloomberg generic pricing, from US$1,337.56 on Tuesday, the lowest close since Aug 12.

Gold's in a holding pattern after a 26 per cent rally this year as comments from Fed officials are parsed for clues on the timing of any increase. After several policy makers signaled in recent days that tighter policy may be warranted this year, investors are counting down toward Ms Yellen's speech at the annual Jackson Hole symposium. Higher borrowing costs typically damp the appeal of bullion.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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Hot stock: CNMC Goldmine up 4.8% on active trade

SHARES of CNMC Goldmine Holdings leapt on active trading on Monday in an otherwise listless market, likely buoyed by continued positive sentiment stemming from its second-quarter results.

At 12.30pm, the share price was up 4.8 per cent or 2.5 Singapore cents at 54.5 Singapore cents, after 10.9 million shares changed hands. The broader Singapore market was edging down, with the benchmark Straits Times Index down 2.67 points at 2,841.35.

Dealers note that investors were probably responding to CNMC's strong set of results for the second quarter ended June 30 released earlier this month and higher dividends.

Having produced and sold a record amount of gold output and achieved higher average gold prices, CNMC posted a 31 per cent growth in net profit to US$4.70 million from the year-ago period. It reported its highest quarterly gold output and sales of 9,807 ounces since it started gold production in July 2010, 24.5 per cent more than a year earlier. The average realised gold price was 8.1 per cent higher in the quarter than a year ago.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 futures settle lower, log weekly loss

Gold futures settled lower Friday and prices ended in negative territory, marking their fourth weekly decline in five.

The metal had spent much of the session trading higher as disappointing economic data from China and the U.S. helped to draw bidders in the yellow metal, but investors were wary as prices failed to hold ground above the key $1,350-an-ounce level.

December gold GCZ6, -0.61% fell $6.80, or 0.5%, to settle at $1,343.20 an ounce after tapping a high of $1,362.50. For the week, prices lost about 0.09%, according to FactSet data.

Silver for September delivery SIU6, -1.50%  shed 31.7 cents, or 1.6%, to $19.703 an ounce, with futures prices losing 0.6% for the week.

“If gold breaks up through $1,350, it will run much higher,” said Julian Phillips, founder of and contributor to GoldForecaster.com.

Despite the losses for gold Friday, some analysts remained upbeat over the prospects for the metal in the weeks ahead.

Phillips pointed out the “rapid approach of the ‘gold season’ in September.”

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U.S. stocks post modest weekly gains; Nasdaq hits record

The S&P 500 and Dow industrials pared most of the losses to finish slightly lower Friday, limiting the main benchmarks’ weekly gains, as weakness in shares of mining and chemical companies weighed on the indexes.
The S&P 500 index SPX, -0.08% retreated 1.74 points, or less than 0.1%, to 2,184.05, weighed by sharp declines in materials, while seven of the index’s 10 sectors closed in negative territory. The index ended the week roughly where it started.
Meanwhile the Nasdaq Composite Index COMP, +0.09% shook off earlier losses to close up 4.5 points, or 0.1%, at 5,232.89. The tech-heavy index gained 2.3% over the week.

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Gold Update of 10th aug'2016 BY EPIC RESEARCH

Gold prices closed up modestly on Tuesday as weakness in the U.S. dollar delivered a boost to the yellow metal. 

December gold rose $5.40, or 0.4%, to settle at $1,346.70 an ounce, ending two consecutive sessions of losses for gold.

Technical traders said some short-covering, or buying back borrowed securities to close an open short position, emerged in the futures market to account for some of Tuesday’s rebound.

Gold prices have been subdued since last week’s stronger-than-expected July jobs report pushed down precious metals prices as expectations for a U.S. interest-rate hike in 2016 increased. So far this month, gold futures are off about 0.8%, but year to date are up 27%, underpinned by global economic uncertainty and bets that the rates will stay lower for longer.

The CME Group’s Fed Watch tool, which tracks pricing in short-term interest-rate futures, puts the chance of a rate increase by year-end at about a coin toss. That is up from a 30% chance for such a scenario priced in before last week’s stronger-than-expected July jobs report. Tuesday’s relatively thin economic calendar could extend the wait for fresh, market-moving data.

Meanwhile, new buyers for precious metals have emerged since Friday’s data-induced volatility, analysts said.

“There has been record buying of gold ETFs since Friday and this is sign of a healthy market,” said Maxwell Gold, director of investment strategy for ETF Securities. Some investors see the pullback in prices as a good buying opportunity. According to Gold, new players, such as private wealth managers, are beginning to enter the market, and there is potential for more demand from this group.

The exchange-traded fund SPDR Gold Trust ended 0.4% higher Tuesday, while the silver ETF iShares Silver Trust gained 0.7%.

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Dow, S&P 500 close lower as oil prices drop

The Dow Jones Industrial Average and S&P 500 Index closed lower Monday as oil prices slipped, while the Nasdaq Composite Index finished at its highest level in more than a year. The Dow industrials closed down 27.73 points, or 0.2%, at 18,404.51, weighed by more than 3% drops in shares of Exxon Mobil Corp. and Chevron Corp. The S&P 500 declined 2.76 points, or 0.1%, at 2,170.84, as the energy sector dropped 3.3%. Oil prices settled down 3.7% at $40.06 a barrel. The Nasdaq rose 22.06 points, or 0.4%, to close at 5,184.20, its highest close since July 21, 2015.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter :http://www.twitter.com/epicresearchsg Like Us On Facebook :http://www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Google Market News Update : Epic Research Singapore

Shares of Google Inc. led tech stocks lower Tuesday, closing at a 14-month low following a price target cut at J.P. Morgan Chase that questioned the viability of its fundamentals.

Google’s GOOGL, -3.43%  stock closed down 3.4% to $498.16, its lowest close since October 2013. J.P. Morgan analyst Doug Anmuth cut his estimates on Google and lowered his price target to $600, although a broader market selloff pushed tech stocks lower across the board.

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Google Market News Update : Epic Research Singapore

European elected officials are preparing to call for a breakup of Google Inc. GOOG, +0.50% GOOGL, +0.39% according to a published report Friday. A draft motion from the European Parliament indicates "unbundling of Google's search engine from other commercial services" would be a solution to the company's dominance, The Financial Times reported. 

The European Parliament has no actual power to break up companies, but the move could pressure the European Commission to take action, according to the report.

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Google Market News Update : Epic Research Singapore

Google today announced plans to shut down Orkut, its first attempt at building a social network. The platform will be formally closed on September 30, after which users will be unable to log in or export their photo albums to Google+.

Orkut grew out  of Google’s 20 percent initiative, which allowed employees to use a fifth of their working week on side projects. Of course, the social network has since been supplanted by Google+, a more ambitious service that ties into many of Google’s other products. The decision to close Orkut is therefore hardly surprising – the fact it took so long is probably more of a shock.

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Google Market Update : Epic Research Singapore

At Google I/O on Wednesday, Google unveiled the newest version of Android called L. This is Google's most ambitious update to Android yet; it's a complete reinvention of Android's UI design.

Taking elements from iOS 7 and Windows Phone 8, L features new colors, new notifications and brand new design guidelines.

Google set out Wednesday to expand its Android empire beyond smartphones to cars, watches and televisions.

"We are beginning to evolve our platforms beyond mobile," Android and Chrome teams chief Sundar Pichai said of how Google's twin operating systems are being adapted to work with one another and with new types of computing hardware.
 
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Google Market News Update : Epic Research Singapore

Google Inc. plans to spend more than $1 billion on a fleet of satellites to extend Internet access to unwired regions of the globe, people familiar with the project said, hoping to overcome the financial and technical problems that thwarted previous efforts.

The project will start with 180 small, high-capacity satellites orbiting the earth at lower altitudes than traditional satellites, and then could expand.

Google’s GOOG +0.38%   satellite venture is led by Greg Wyler, founder of satellite-communications startup O3b Networks Ltd., who recently joined Google with O3b’s former chief technology officer.

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Epic Research Singapore :Google Market News Update

Google overtakes Apple as world's top brand: survey

US search engine Google has overtaken rival technology titan Apple as the world's top brand in terms of value, global market research agency Millward Brown said on Wednesday.

Google's brand value shot up 40 per cent in a year to US$158.84 billion (115 billion euros), Millward Brown said in its 2014 100 Top BrandZ report.

"Google has been extremely innovative this year with Google Glass, investments in artificial intelligence and a range of partnerships," said Benoit Tranzer, the head of Millward Brown France.

Google Glass is Internet-linked eyewear for which the firm has joined hands with Luxottica, a frame giant behind Ray-Ban and other high-end brands, to sell the new product in the United States.

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Epic Research Singapore : Apple & Google Market News Update

Apple Inc and Google Inc are wooing game developers to ensure that top game titles arrive first on devices powered by their respective operating system, the Wall Street Journal reported, citing people familiar with the matter.

Both the companies are trying to lure game developers by offering premium placement to these games on their app stores'home pages and features lists, the daily said. Both Google and Apple were not immediately available for comment outside regular U.S. business hours.

Apple had struck a deal with Electronic Arts Inc last August to promote the game "Plants Vs Zombies 2" prominently in its App Store, and had a similar arrangement with ZeptoLab to promote the sequel to its popular puzzle game "Cut the Rope", which released in December, the Journal reported.

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Epic Research Singapore : Android Market News Update

The Google Android platform grabbed the majority of mobile phones in the US market in early 2014, as consumers all but abandoned non-smartphone handsets, a survey showed Friday.

The poll by Consumer Intelligence Research Partners found 53 per cent of new mobile phones activated by US customers were Android devices in the January-March period.

Apple's iOS, the platform used by the iPhone, accounted for 42 per cent, the survey found.

Windows and BlackBerry devices each accounted for one percent, while non-smartphones were just three percent, the research firm said. Late last year 20 per cent bought a "basic" mobile phone.

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Epic Research Singapore : Google News Market Update

Google Inc. on Monday disclosed $9.5 million in cash bonuses, tied to the company's performance in fiscal year 2013, for certain executive.

While Chief Executive and Co-Founder Larry Page and Co-Founder Sergey Brin again weren't awarded cash bonuses, Chief Financial Officer Patrick Pichette's bonus increased to $3 million from $2.8 million, according to a filing with the Securities and Exchange Commission. 

Meanwhile, Chief Business Officer Nikesh Arora received a $3.5 million bonus, up from $2.8 million last year, while Chief Legal Officer David C. Drummond received a bonus of $3 million, down from $3.3 million in the prior year.

The bonuses are slated to be paid on March 14, according to the filing.

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Epic Research Singapore : Google & Motorolo News Update

This article was corrected to fix the misstatement that Google bought Lenovo shares in the headline and throughout the article. It is obtaining the shares as part of the terms of its sale of Motorola Mobility to Lenovo.







Google Inc. GOOG +0.48% will own a 5.94% stake in Lenovo Group Ltd. HK:992 +1.32% once it completes its sale of the Motorola Mobility handset business to the Chinese personal-computer maker, a Google spokesman said Friday. Last week, Google announced that it would sell its Motorola handset unit to Lenovo for $2.91 billion. The terms of the deal said that Lenovo's payments will be made in cash as well as shares to be issued to Google. As a result of the deal, Google will own about 618.3 million shares in Lenovo, or a 5.94% stake.

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