Metals fall as Fed hints at more rate hikes

Metal prices fell after the U.S. Federal Reserve left interest rates unchanged on Thursday, but signaled further rate hikes are possible this year. Three-month copper fell 1.2% to $8,427.50 a tonne, while aluminum fell 1.3% to $2,224.50 a tonne. Gold also fell 1.3% to $1,942.80 an ounce. Demand for industrial metals is expected to remain under pressure amid heightened economic headwinds, ANZ Research said in a note. Rising U.S. Treasury yields and a stronger dollar also weighed on metals prices, BofA added in a separate note, both of which rose after the Fed meeting.