Producers of metals and other raw materials were more or less flat as traders hedged their bets ahead of the Federal Reserve's policy statement midweek, and a potential Ukraine invasion.
Both the U.S. dollar and gold futures rose, a sign that investors around the world were hunkering down in safe havens ahead of potential military conflict in Ukraine and a Federal Reserve policy meeting. The dollar and gold generally have an inverse correlation, but, in times of war and extreme economic uncertainty, both are associated with the "fear trade."
Gold futures rose by 0.5% to $1841 an ounce.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-24-22 1628ET
