The price of copper is about to see a second monthly fall following disappointing Chinese data. Also, gold is on the verge of a monthly decline while the US debt agreement reduces the attractiveness of the yellow metal.

The price of gold fell on Wednesday, in preparation for a monthly decline, while progress in the U.S. debt ceiling deal and expectations that the Federal Reserve will likely raise interest rates further eroded bullion's safe-haven status. Spot gold fell 0.2% to $1,955.28 per ounce at 0243 GMT, and has lost 1.7% since the start of the month. U.S. gold futures fell 0.2% to $1,954.80. The price of gold has fallen back from its recent record highs reached in early May

Cash fell 0.4% to $23.11, platinum lost 0.5% to $1,008.92, while palladium rose 0.19% to $1,403.30 per ounce. All contracts were set for a monthly loss.

The price of copper fell, poised for a second consecutive monthly decline, following weaker-than-expected manufacturing data from China, the main consumer, and while lackluster global economic performance reduced demand prospects. Three-month copper on the London Metal Exchange was down 0.7% to $8,066 per ton at 0441 GMT. The contract has lost 6.1% so far this month and was ready for the biggest monthly drop since June 2022. July's most traded copper contract on the Shanghai Futures Exchange fell 0.4% to 64,700 yuan ($9,360.40) per ton, having lost 3% since the start of the month

LME aluminum fell 0.5% to 2,212 dollars per ton, tin fell 0.9% to 25,335 dollars, zinc fell 1.2% to 2,274 dollars, lead lost 0.3% to 2,058 dollars, and nickel fell 1.7% to 20,680 dollars. SHFE aluminum fell 0.2 percent to 17,905 yuan per ton, zinc fell 1.6 percent to 19,035 yuan, lead fell 0.1 percent to 15,200 yuan, nickel fell 4.5 percent to 156,620 yuan, and tin slipped 1.5 percent to 206,100 yuan