Producers of metals and other raw materials rose sharply after stronger-than-anticipated jobs data.

Materials opened a volatile session lower, as another surge in Treasury yields sparked by the strong February jobs report generated concerns about Federal Reserve policy.

The dollar increased in value in the wake of the jobs report, weighing on precious metals futures.

The price of gold settled below $1700 an ounce, closing at its lowest level since June 5, while silver futures incurred a roughly 3.5% loss on the week.

Norwegian energy and aluminum company Norsk Hydro agreed to sell its rolled-products business to U.S. investment firm KPS Capital Partners in a deal worth about $1.66 billion.

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

(END) Dow Jones Newswires

03-05-21 1648ET