The Standard & Poor’s GSCI gauge of 24 commodities fell 1.3% to 636.31 in London. The UBS Bloomberg CMCI index of 26 raw materials was down 0.9% at 1,554.4146.

Base Metals;
Copper rose to the highest in more than a week as plans in China to increase spending on railroads and other projects boosted the outlook for demand in the world’s largest consumer of the metal.

Copper futures for September delivery climbed 0.3% to USD 3.427 a pound on the Comex in New York after rising to USD 3.457 the highest for a most active contract since July 20th 2012.

On the London Metal Exchange, copper for delivery in 3 months advanced 0.2% to USD 7,561 per tonne. Nickel, aluminum, lead, zinc and tin fell in London.

Precious Metals;
Gold, little changed in New York, may climb on speculation that central bank policy makers meeting this week will signal more stimulus efforts. Gold futures for December delivery rose 0.1% to USD 1,625.40 an ounce on the Comex in New York. A close at that level would leave prices up 1.3% this month after 2.6% gain in June.

Silver futures for September delivery rose 0.3% to USD 28.105 an ounce after reaching USD 28.335, the highest since July 5th 2012.