Metals Markets Cautious Ahead of Fed Rate Decision; Copper Up Slightly While Gold Slips
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Metals markets were wavering as they look ahead to the Federal Reserve's interest rate policy decision on Wednesday.
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Three-month copper was up 0.2% to $8,155 a metric ton while aluminum was flat at $2,262.50 a ton.
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Gold was 0.1% lower at $2,004.40 a troy ounce.
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Investors are nervous about new geopolitical risks, soft corporate earnings, and elevated interest rates.
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It's likely the Fed will hold rates steady, but Jerome Powell's comments and how forward-looking Fed expectations shift the U.S. dollar will be important for commodities.