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GOLD NEWS

Gold prices gained in Asia on Thursday with regional data sets noted, particularly a rise in consumer prices in China. In China consumer prices rose 0.5%, higher than the 0.4% gain seen in August and producer prices fell 5.9%, ore than the expected drop of 5.5% year-on-year. On the Comex division of the New York Mercantile Exchange, gold for December delivery rose 0.33% to $1,105.60 a troy ounce. On Tuesday, World Bank chief economist Kaushik Basu warned that a rate hike by the Fed next week could trigger a widespread crisis in emerging markets, pushing capital away from their economies and potentially creating sharp fluctuations in their currencies.

BASE METAL

Goldman Sachs lowered its medium-term forecast for copper prices Sept. 8, though Glencore plans to cut its copper output, according to Wallstreetcn.com. Base metal prices on the SHFE now waits for the result of major economic results from China on Sept. 10. LME copper retreated earlier gains during European and US trading hours responding to a slowdown in China’s economy and firmer US dollar. The 3-month copper finally edged up USD 4/mt to USD 5,356/mt. LME copper is predicted to range between USD 5,300-5,380/mt during Asian trading hours.

ENERGY NEWS

Oil prices fell on Thursday as weak Japanese and Chinese economic data fuelled concerns that low levels of investment could further erode already slowing global growth. Japan's core machinery orders fell 3.6 percent in July, official data showed, much worse than a 3.7 percent increase expected by economists, and followed a 7.9 percent month-on-month decline in June. In China, Asia's biggest economy, analysts already expect a further slowdown in economic growth, now at its lowest in a generation.