Nickel prices on the LME started their ascent in January as stocks in LME-approved warehouses started to slide due to soaring demand.

Christian Trunz told a Chicago jury that Michael Nowak, the managing director who ran the precious metals business, advised him to mislead investigators about his intent to execute the trades.

The company posted $913 million in adjusted earnings before interest, taxes, depreciation and amortization in the second quarter.

Spot gold fell 0.9% to a new 11-month low, after holding steady earlier in the session.

The precious metal has hovered in a narrow trading range since late last week as a gauge of the greenback retreated for three straight sessions.

Global slowdown is expected to see a slide and trigger a stimulus that could match the 4 trillion yuan package implemented after the 2008 financial crash.