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Gold rises on rate decision, copper gains

Gold is US$10 an ounce higher than this point yesterday, at $1,474/oz, after the US Federal Reserve kept interest rates on hold.
Gold rises on rate decision, copper gains Gold rises on rate decision, copper gains Gold rises on rate decision, copper gains Gold rises on rate decision, copper gains Gold rises on rate decision, copper gains

Saudi Aramco soars on debut

Staff reporter

Key market indices closed higher around the globe yesterday and most futures were looking up at the time of writing.

News out of Indonesia boosted copper and nickel prices in London, Marex Spectron said, referring to reports the country's  copper concentrate output was below target and it would double royalties on sales of nickel ore to 10%.

Copper closed almost 1% higher while nickel rose 3.4% on the London Metal Exchange.

The UK votes in a general election today as concerns loom a likely Conservative win may not result in a majority government, lowering marginally the chances of a "smooth Brexit" in January, IG analyst Kyle Rodda noted.

Meanwhile, Saudi Aramco's successful IPO, rising 10% in yesterday's debut on the Saudi Stock Exchange, helped the state oil company become the world's biggest listed company with a valuation of $1.88 trillion, Bloomberg reported.