Gold Falls as Fed Rate Hike Weighs on Prices Amid Stable Copper Demand

Gold prices have eased as investors digest the Federal Reserve's first rate hike since 2023 and guidance for prolonged restrictive policy.

The ING commodities team notes that higher rates remain a headwind for gold, but ETF holdings are at six-month highs, and central bank buying should cushion downside.

LME copper remains above $14,500/t, supported by improving Chinese demand and supply risks that keep prices range-bound.