Producers of metals and other raw materials fell amid interest-rate worries ahead of the Federal Reserve's policy statement Wednesday.
Former Federal Reserve Governor Randal Quarles said the Fed will likely move swiftly to raise its policy interest rate above the inflation rate because that is the only way to defeat inflation.
The current Rio Tinto, Turquoise Hill and the government of Mongolia have agreed to waive the government's $2.4 billion shareholder loan, allowing the giant Oyu Tolgoi underground mine to commence.
Gold futures rose as wild swings in financial markets and the growing risk of military conflict in Ukraine boosted demand for the traditional safe haven.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-25-22 1635ET
