Nickel gains ground

GOLD climbed to its highest since January after a private report indicated US companies hired fewer workers than expected, in turn fuelling speculation that the Federal Reserve may delay raising borrowing costs.
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According to Bloomberg, Singapore registered the precious metal trading for immediate delivery at $A1584.54 ($US1203.98), a 1.7% rise from $A1582.39 per ounce ($US1202.39), with prices in Shanghai heading for its biggest advance in two weeks.

Meanwhile, nickel gained ground from a six-year low after a Chinese manufacturing rebound.

The industrial metal tumbled 18% in the first quarter of this year, with nickel-for-delivery prices rising 2.5% to $A16,738.05 per tonne ($US12,705) on the London Metal Exchange.

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