Copper fell to the lowest in six weeks in New York as Federal Reserve policy makers begin a meeting that may indicate when the central bank will start curbing debt purchases intended to stoke the U.S. economy.
Gold futures advanced to a three-week high as the dollar weakened against the euro and yen, increasing demand for the precious metal as an alternative investment. Platinum rose to the highest in almost eight weeks.
Gold futures tumbled below $1,400 an ounce, extending the longest slump in almost three months, as the dollar’s rally eroded demand for the metal as an alternative investment. Silver fell to a three-week low.
Gold fell after Dutch Finance Minister Jeroen Dijsselbloem discussed details for the European banking union project, adding to signs that the leaders will act to contain the region’s fiscal crisis and eroding demand for haven assets.