Gold falters after Kim Jong Un reportedly delays Guam strike

Gold falters after Kim Jong Un reportedly delays Guam strike.

Gold prices fell on Tuesday, as U.S-North Korea tensions eased, after North Korean leader Kim Jong Un was reported to have delayed a decision on firing missiles towards the U.S. pacific territory of Guam. Gold prices struggled to shake off losses, as demand for safe-haven assets cooled, following reports from North Korean state media on Tuesday that leader Kim Jong Un had delayed a decision on firing missiles towards the U.S. pacific territory of Guam, suggesting that his earlier threats were rhetorical. Meanwhile, better-than-expected U.S. retail sales data for July, stoked expectations of stronger U.S. economic growth in third-quarter, adding further pressure on the yellow metal. At its policy meeting in July, Fed members voted to keep rates unchanged, citing concerns over the slowdown in inflation.

Spot Zinc Price Surges in Tianjin, Chihong Resources still Short of Demand, SMM Reports.

Zinc traded mainly in 25,050-25,710 yuan per tonne range in Tianjin August 16, 200 yuan per tonne above Shanghai price and 350-400 yuan per tonne above September zinc on the SHFE, SMM data showed. CNMC Signs MOU with Australia Zinc Explorer on Lead-Zinc Mine Project. Chihong branded #0 zinc still falls short of demand, SMM noted. Overall trading was lackluster since downstream buyers lacked buying interest in the face of high zinc prices. Zinc Downstream Producers in Zhejiang Ordered to Shut down for Environmental Protection, SMM Reports

Philippines Reports 24 Per cent Decline in Nickel Ore Output in 1H 2017.

The Philippines’ Mines and Geosciences Bureau (MGB) said on Tuesday in a report that the country’s nickel direct shipping ore fell 24 per cent in 1H 2017, citing suspension of some mining operations after government order and adverse weather. Output at 11 of 30 mines was zero during the first half of the year.

Oil prices edge up on falling US crude stocks, but global glut still weighs.

Oil prices edged up on Wednesday on a fall in U.S. crude inventories, although markets were still being weighed down by general oversupply."It is the ongoing fundamental issue of excessive supply that is continuing to weigh on oil prices. Not a lot has changed despite the OPEC and Russia efforts recently. While these producers have tried to limit their oil output, U.S. shale oil continues to rise," said Fawad Razaqzada, market analyst at futures brokerage Forex.com. On the demand side, analysts also see a gradual slowdown in consumption growth as gasoline demand peaks in the United States due to improving fuel efficiency and the rise of electric vehicles, while China's voracious oil thirst also starts to taper off.

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