
“Metal prices are mixed, with base metals falling but gold futures broadly flat at $2,329.3 a troy ounce.
The precious metal’s price has been largely range bound since Federal Reserve comments last week poured cold water on hopes for a U.S. interest-rate cut sooner rather than later, which were initially spurred by better-than-expected inflation data.
Typically, higher interest rates for longer damp investor enthusiasm for non-interest bearing bullion.
Elsewhere, copper fell 1.1% to $9,588.5 a metric ton, while aluminum fell 1.4% to $2,472 a ton.
Weaker home price figures from China despite efforts to bolster the country’s major property sector—a key market for base metals—and the country’s central bank decision to leave the key policy rate unchanged have pressured prices, Sucden Financial analysts said in a note.”
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