Investing.com - Copper futures were lower for the third consecutive day on Wednesday, as investors remained cautious ahead of the minutes of the Federal Reserve's July meeting due out later in the day. On the Comex division of the New York Mercantile Exchange, copper futures for September delivery traded at USD3.310 a pound during European morning trade, down 0.8%. Nymex copper prices fell by as much as 0.95% earlier in the session to hit a daily low of USD3.308 a pound. The September contract settled up 0.2% at USD3.338 a pound on Tuesday. Copper prices were likely to find support at USD3.287 a pound, the low from August 15 and resistance at USD3.372 a pound, the high from August 19. Investors will scrutinize the minutes of the Fed's July 30-31 meeting for further hints on when the central bank may start to pull back stimulus measures. The Fed’s stimulus program is viewed by many investors as a key driver in boosting the price of commodities as it tends to depress the value of the dollar. Market players also looked ahead to manufacturing data out of China, set for release on Thursday. China is the world’s largest copper consumer, accounting for almost 40% of world consumption last year. Traders consider shifts in the country’s PMI an indicator of China's copper demand, as the industrial metal is widely used by the sector. Elsewhere on the Comex, gold for December delivery fell 0.8% to trade at USD1,361.20 a troy ounce, while silver for September delivery slumped 1.1% to trade at USD22.82 a troy ounce. Metal prices struggled for upside traction due to a slightly stronger U.S. dollar, as dollar-priced commodities become more expensive to investors holding other currencies when the greenback gains. The dollar index, which tracks the performance of the greenback against a basket of six other major currencies, was up 0.25% to trade at 81.15, moving off the previous session’s low of 80.77.

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