THE prices of copper in London yesterday went down on worries over Spain's debt problems.

The US Federal Reserve concluded a two-day policy meeting later, with expectations high that the Central Bank will extend its bond-buying programme.

Reuters reports that three-month copper on the London Metal Exchange (LME) was down by 0.6 per cent at $7,567.50 a tonne, after rising by 1.3 per cent on Tuesday.

The most-active October copper contract on the Shanghai FuturesExchange climbed by 0.4 per cent to close the session at 54,910 yuan ($8,600) a tonne, catching up with previous gains in London.

A technical analysis of Shanghai copper suggests that it may end the current rebound soon.

Shanghai copper prices have climbed five per cent since hitting aneight-month low in June.

On he other hand, the prices of gold rose on growing hopes that the US Federal Reserve may do more to stimulate the world's top economy.

The prices of spot gold rose by $4.09 to $1,620.69 an ounce. Goldjumped to its highest level in 2012 of around $1,790 in February.

US gold futures for August delivery fell by $1.40 an ounce to$1,621.80.

Volumes were at around 8,000 lots, compared with more than 120,000 lots at the close on Tuesday.