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Metals give back in wake of rate hike

Metals prices, which had traded in a steady-to-positive range until Wednesday’s decision by the US Federal Reserve to raise federal interest rates by 0.25%, have given back some of their gains.
In the wake of the highly anticipated move to rein-in the US’s loose monetary policies of the past several years, the focus for metals could shift more on supply/demand fundamentals and less on dollar strength, UK-based boutique advisory firm SP Angel analyst Carole Ferguson said on Thursday in a note to clients.