The rate hike was the first by the ECB in over a decade, and its largest since 2000.

Spot gold fell 0.9% to a new 11-month low, after holding steady earlier in the session.

A further surge in power prices could knock more plants offline over winter, the region’s biggest metal producers warned.

Mining gear maker Epiroc reported operating earnings slightly below market expectations on Wednesday.

In June, Glencore’s UK subsidiary pleaded guilty to seven counts of bribery in connection with oil operations in Cameroon, Equatorial Guinea, Ivory Coast, Nigeria and South Sudan.

Switzerland imported 284 kg of gold worth around $16 million from Russia in June.

Russian gold and silver miner would shift its focus to Kazakhstan as part of strategy to de-risk its ongoing operations.