Nickel reverses losses

INDUSTRIAL metals were again generally soft though nickel stemmed the flow of its recent losses with a gain of 1.5%.

Nickel reverses losses Nickel reverses losses Nickel reverses losses Nickel reverses losses Nickel reverses losses

The general weakness of late in base metals is seen as related to concerns about a slowdown in China.

However, the concerns evidently don’t extend to the bulks with iron ore and coking coal again solid-to-strong.

For the gold market, North Korea became yesterday’s news and the theme for the day was the outlook for US interest rates, and in particular, the likelihood of increased rates.

And just for good measure, a Goldman Sachs executive told Bloomberg that bitcoin is “not much different to gold”.

On the equity markets, investors avoided the majors in London with losses of around 2% for Rio Tinto and BHP Billiton, and nearly 3% in the case of Glencore.

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