15th September 2015
Gold futures fell on Tuesday as investors looked ahead to the key Federal Reserve rate decision later in the week.
On the Comex in New York, gold for December delivery fell 0.35 per cent to just above $1,103 an ounce - only a little higher than Friday’s one-month low.
Expectations the Fed is looking to hike rates this month has depressed demand for gold, which is less attractive than when borrowing costs are on the rise.
Staying with metals, silver futures for December delivery were down 0.5 per cent at $14.29 per troy ounce, while copper was flat at $2.40 a pound.
Meanwhile, oil prices rose after Monday’s sharp sell-off, with US light crude surging nearly one per cent to $44.40 a barrel.
Brent climbed 0.5 per cent to $47.60 a barrel, having shed more than three per cent in the previous session.
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