Crude Oil Up In Asia Ahead Of OPEC, Rig Count Data, NKorea Nuclear N

Gold Gains In Asia On NKorea Remarks On Nuclear Testing.

Gold prices rose in Asia on Friday as investors they digested an alarming report that North Korea could test a nuclear weapon over the Pacific Ocean with other attention on fixed on a policy speech on Brexit later in the day. North Korean Foreign Minister Ri Yong Ho said on Friday he believes the North could consider a hydrogen bomb test on the Pacific Ocean of an unprecedented scale, South Korea's Yonhap news agency reported. Ri was speaking to reporters in New York when he was asked what North Korean leader Kim Jong Un had meant when he threatened in an earlier statement the "highest level of hard-line countermeasure in history" against the United States. Overnight, gold prices fell sharply on Thursday as traders continued to unwind their bullish bets on the precious metal in the wake of the Federal Reserve’s policy statement which sparked expectations of a year-end rate hike. Gold prices slid to a more than four-week low as a somewhat hawkish Federal Reserve said Wednesday it would start to unwind its massive portfolio of bonds in October and signaled that a year-end rate hike remained appropriate.

SMM Nickel Weekly Average Price Tumbles 2,460 yuan This Week.

The SMM nickel weekly average tumbled by 2,460 yuan per tonnes on a weekly basis, according to SMM data. The SMM nickel price averaged at 87,975 yuan per tonne this past week. China NPI Producers Hold Back Sales on Difficulties in Sourcing Supplementary Materials.

LME Aluminum to Fluctuate at Highs.

LME aluminum will fluctuate at highs after base metals plunged yesterday, moving between USD 2,1402,175/mt. SHFE 3-month aluminum is expected to rally some and fluctuate between RMB 16,450-16,750/mt, with spot discounts between RMB 250-210/mt.

Crude Oil Up In Asia Ahead Of OPEC, Rig Count Data, NKorea Nuclear N.

Crude oil prices rose in Asia on Friday as investors looked ahead to a meeting of OPEC and allied nations to review efforts to curb output and U.S. rig count later in the day as they digested an alarming report that North Korea could test a nuclear weapon over the Pacific Ocean. North Korean Foreigh Minister Ri Yong Ho said on Friday he believes the North could consider a hydrogen bomb test on the Pacific Ocean of an unprecedented scale, South Korea's Yonhap news agency reported. Overnight, crude oil prices settled lower on Thursday as investors continued to weigh data showing a sharp rise in U.S. crude production and stockpiles ahead of an Opec meeting slated for Friday. The rocky week for crude prices continued as concerns over an uptick weekly crude supplies and production weighed on sentiment amid growing investor optimism on a possible extension to the Opec-led agreement to cut oil output.

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