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Gold Falls to Four-Week Low and Copper Sags Ahead of Fed Meeting

  • Central bankers could project interest-rate liftoff in 2023
  • Bullion may rise if Powell reaffirms transitory inflation risk
Russian Gold Bar Production At Ural Mining And Metallurgical Co.
Photographer: Andrey Rudakov/Bloomberg
Updated on

Gold slid to the lowest in almost a month as a U.S. bond rally lost steam ahead of this week’s Federal Reserve meeting, which may give clues on future monetary policy. Copper also fell.

Bullion retreated as Treasury yields ticked higher, curbing the appeal of the non-interest-bearing metal. Bullion has posted two straight weekly declines.