Gold prices were little changed on Tuesday, as investors looked for interest rate hike cues from the U.S. Federal Reserve’s meeting, while safe-haven bullion…
Gold prices held steady on Monday after cutting gains in the prior session on U.S. Federal Reserve chief Jerome Powell's comment that inflation could ease next year and the central bank was on track to start tapering its stimulus.
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Chinese shares slumped as the education and property sectors were defeated on worries over heavy-handed government regulations, making commodities like metals an attractive alternative investment.
Floods in central China, especially in the industrial and transport hub city of Zhengzhou, have raised supply concerns and demand for rebuilding damaged infrastructure, which will consume industrial metals.
FUNDAMENTALS ShFE nickel hit a five-month high at 146,870 yuan a tonne, tin climbed 1.4% to 233,710 yuan a tonne and aluminum reached its highest since May 19 of 19,750 yuan a tonne. LME nickel touched its highest since Feb. 25 at $19,645 a tonne, and aluminum rose 0.3% to $2,511 a tonne while tin fell 0.5% to $34,330 a tonne.
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