Gold prices showed muted movement as investors awaited the Federal Reserve's rate decision, with the central bank widely expected to raise rates by 25 basis points. Market participants are closely eyeing the Fed's stance on future rate cuts and the overall economic outlook.

Meanwhile, copper prices took a hit, largely due to weak data from China, the world's largest consumer of the metal. November's industrial production growth in China was in line with expectations, but disappointing retail sales data dampened sentiment, suggesting ongoing challenges in the nation's economic recovery.

The gold market is likely to remain cautious ahead of the Fed's meeting, with analysts predicting that any changes in the monetary policy outlook could provide a fresh catalyst for price movements.

Key Takeaways:

• Gold Prices: Prices have been stable ahead of the Fed's decision, with a focus on rate cuts and economic forecasts.
• Copper Prices: The weak retail sales data from China impacted copper prices, as demand concerns weigh on the market.
• Fed Rate Decision: A 25 basis point hike is expected, with potential implications for commodities markets.

For more insights into the commodities market, check out the Commodities API.