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Gold prices muted before Fed rate decision; dollar in spotlight

Gold prices remained stable as investors awaited the U.S. Federal Reserve's interest rate decision, with expectations leaning towards a pause in rate hikes due to recent economic indicators suggesting a slowdown. Meanwhile, copper prices experienced a decline due to disappointing economic data from China, the world's largest consumer of metals, which reported weaker than expected industrial output and retail sales for October. This data raised concerns about the health of the Chinese economy, impacting base metal prices. Additionally, the market was also influenced by a stronger U.S. dollar, which typically makes commodities priced in dollars more expensive for foreign buyers, thus affecting demand.

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[ https://ph.investing.com/news/commodities-news/gold-prices-muted-before-fed-rate-decision-copper-hit-by-weak-china-data-1580251 ]