"The outcome was not unexpected by any means, but the market has unwound hedges against a more ‘dovish' personnel shift and a potential Brainard appointment, and the idea of policy continuation has seen the potential for a June 2022 rate hike priced at 96%, with 2.8 hikes priced through 2022," Pepperstone head of research Chris Weston said.
The spot gold price has tumbled from $1,845/oz at this point yesterday to $1,810/oz.
Meanwhile the zinc price jumped 3.62% to $3,401.25 per tonne on news of more supply constraints.
Glencore said on Monday it would put its zinc sulphide operation in Portovesme, Italy, on care and maintenance until there is "a meaningful change in power market prices", Reuters reported.
Leading zinc producer Nyrstar had similarly announced production cuts last month due to Europe's power woes.
Copper miner Antofagasta led gains among mining majors in London yesterday, closing up 5%, while Glencore was flat.
Across the pond, fellow red metal producer Freeport-McMoRan closed down 1.42% and BHP was up 3.9% in Australian trade this morning.
