Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
United States’ ambassador to the United Nations Nikki Haley has issued warning to China this week saying that the country must stop providing oil shipments to its isolated neighbor or else the United States will take up situation in its own hand. The warning comes after Pyongyang once again test-fired another ballistic missile on Tuesday that reached an altitude of 4,475 km and travelled around 1,000 km before plunging into the Sea of Japan. North Korea claimed that the tested ballistic missile is a new type of Intercontinental Ballistic Missile (ICBM) that is capable of reaching U.S. mainland.
Haley said during her speech at the UN headquarter that President Trump has called President Xi to stop all oil shipments to North Korea. She added, “We now turn to President Xi to also take that stand. We believe he has an opportunity to do the right thing for the benefit of all countries. China must show leadership and follow through. China can do this on its own, or we can take the oil situation into our own hands”. China provides about 90 percent of North Korea’s energy needs and last year shipped around 6,000 barrels per day to Pyongyang. However, under pressure from the United States, China in September has agreed to reduce shipments of refined petroleum products to North Korea under 2 million barrels per day. U.S. has accused China of sending raw crude oil in the tune of 10,000 barrels per day to Pyongyang only operating refinery near the Chinese border.
It is not clear at the moment, what actions might be taken by the United States if it does take up the situation into its own hand.
