Base Metals Rise, Gold Slips Amid Choppy Macro Sentiment

0740 GMT – Base-metal prices are rising while gold is falling, with strong jobs data in the U.S. likely to cement further rate hikes this year against more positive economic data coming from China. Three-month copper is up 1% to $8,194.50 a metric ton while aluminum is up 0.2% to $2,252 a ton. Gold, meanwhile, is down 0.3% to $1,976 a troy ounce. This morning, data from China showed a small expansion in Chinese manufacturing for the first time since February, a strong sign for industrial metals. However, more rate hikes are expected from the Federal Reserve this year, with a big increase in job openings during April in the U.S., something which has been a headwind for gold prices of late. (yusuf.khan@wsj.com)