Producers of metals and other raw materials rose sharply as traders rotated into sectors that have lagged the tech boom so far this year.
Precious metals have languished in recent weeks, in what one strategist said may be in anticipation of a swing to electric car-usage.
Gold futures are about 3% off their December highs. But prices of platinum, the precious metal used in catalytic converters, have plunged almost 20% from their highs, said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
02-12-24 1840ET
