Nickel climbed down from over two-year highs on Tuesday as investors booked profits

Gold Prices Up In Asia As Trump Proposes Bipartisan Push To Congress.

Gold prices rose in Asia on Wednesday as President Donald Trump urged bipartisan cooperation on overhauling US immigration policies and rebuilding infrastructure in an address to Congress on Tuesday night. \"So tonight I am extending an open hand to work with members of both parties, Democrats and Republicans, to protect our citizens, of every background, color, and creed,\" Trump said in prepared remarks. Ahead of Trump\'s speech, Republicans and Democrats were deeply divided over immigration, which has been linked to congressional efforts to pass a spending bill. Gold prices fell on Tuesday amid rising bond yields as investors continued to bet that strong economic growth and an improved inflationary environment could encourage the Federal Reserve to adopt a faster path to monetary tightening.

Nickel climbed down from over two-year highs on Tuesday as investors booked profits.

Nickel climbed down from over two-year highs on Tuesday as investors booked profits from a rally that was supported by a low dollar and an improving demand and supply outlook. Benchmark LME nickel was bid 0.8 percent lower at $13,690 ounces after failing to trade in official rings. The metal, which is also used in electric vehicle batteries, touched $14,040 per tonne on Monday, its highest since May 2015. On-warrant LME inventories of nickel MNISTX-TOTAL, those not earmarked for delivery, fell to their lowest level in 2018 at 250,920 tonnes.

Copper dropped on profit booking as investors looked ahead to details of infrastructure-building in U.S. Trump's State of the Union address and Chinese manufacturing PMI data.

Copper on MCX settled down -0.25% at 450.70 on profit booking as investors looked ahead to details of infrastructure-building in U.S. President Donald Trump's State of the Union address and Chinese manufacturing PMI data. China's economic growth will likely slow to 6.5-6.8 percent this year, a senior official told. China's refined copper production in November jumped nearly 10% from the same time last year to 786,000 tonnes, the highest rate in at least three years data from the National Bureau of Statistics showed as smelters make the most of higher copper prices.

Oil prices fall for third day as inventory build-up weighs.

Oil prices fell for a third day on Wednesday after data from an industry body showed crude stocks rose more than expected last week, while a selloff in other commodities, stocks and bonds added to investors' bearish mood."Increasing concerns over the rising U.S. production continue to mount pressure on the commodity," said Mihir Kapadia, chief executive of Sun Global Investments. "Over the past couple of years, U.S. producers have gained significant inroads in the global oil market industry," he said. Prices on both WTI and Brent are still on track for a fifth month of gains.U.S. Energy Department data on Wednesday is likely to show an increase in increase in inventories for the first time 11 weeks.

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