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Copper prices were capped on Tuesday as inventories rose and the market worried about falling economic growth and demand while awaiting an expected interest rate cut in the United States. US crude oil futures rose sharply on Tuesday on Mid-west storm-related infrastructure snags, Texas Gulf Coast fog-delayed shipping and as markets awaited a Federal Reserve interest rate decision. On the New York Mercantile Exchange at 1454 EST (0654 AEDT), January crude was up $US1. US gold futures finished higher in Tuesday’s pit session on the back of a sharp rise in crude oil prices, boosting gold’s appeal as a hedge against inflation. However, gold futures dropped sharply in after-hours electronic trade, as bullion investors were disappointed that the Federal Reserve cut interest rates by only a quarter of a percentage point. read more

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