Producers of metals and other raw materials ticked down amid anxiety ahead of the Federal Reserve policy decision and key inflation data.

"We expect U.S. core CPI to rise by 0.3% month-over-month for the second straight month in May, providing a further signal that inflation is coming off its first-quarter hot streak," said Andy Schneider, senior U.S. economist at brokerage BNP Paribas.

Rate-sensitive gold futures slipped ahead of the Fed statement, but held above the psychologically significant $2300 per ounce level. Gold futures have fallen 5% from May highs amid fears that the Fed will keep rates higher for longer.

Write to Rob Curran at

(END) Dow Jones Newswires

06-11-24 1809ET