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Materials Give Back Some Gains On Fears Of New Lockdowns -- Materials Roundup

11/18/2020 | 04:22pm EDT

Producers of metals and other raw materials gave back some recent gains as vaccine hopes were offset by lockdown worries.

Investors had piled into cyclical sectors and small caps and out of the technology sector in recent weeks, spurred by hopes that a vaccine approval would inspire a return to economic normality. That trend slowed Wednesday.

Coffee futures rallied after Hurricane Iota struck growing regions in Honduras and Guatemala.

Gold futures for December delivery declined by $11.20, or 0.6%, to settle at $1,873.90 an ounce, as Pfizer said it would file for regulatory approval of its Covid-19 vaccine, potentially opening up a path to distributing the inoculation by the end of the year.

The diamond market will normalize in 2021, as below-capacity production by De Beers and Alrosa further curtails supply while demand indicators remain steady in the U.S. and China, according to brokerage RBC Capital Markets, as reported earlier.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

11-18-20 1621ET

Stocks mentioned in the article
ChangeLast1st jan.
GOLD 0.09% 1810.97 Delayed Quote.-4.50%
IOTA (IOT/BTC) 0.00% 2.2E-5 Real-time Quote.120.00%
IOTA (IOT/ETH) -3.56% 0.000324 Real-time Quote.-16.38%
IOTA (IOT/EUR) 1.36% 0.722583 Real-time Quote.194.43%
IOTA (IOT/USD) 1.25% 0.85696 Real-time Quote.185.86%
PFIZER, INC. -0.96% 45.215 Delayed Quote.22.90%
PUBLIC JOINT STOCK COMPANY ALROSA 3.05% 134.97 End-of-day quote.37.26%
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