Materials Up as Gold Rally Continues -- Materials Roundup

Producers of metals and other raw materials rose as gold's record-breaking rally continued.

Gold futures rose 1.2% to an all-time closing high of $3820.90 an ounce. The metal's sudden rise could be "an illustration of the murky situation investors find themselves in not knowing whether it's time to move to higher growth or move into something perceived as a hedge," said JD Joyce, president of Houston financial advisory Joyce Wealth Management.

Barrick Mining President and Chief Executive Mark Bristow quit the big Canadian gold miner roughly seven years after he took over the job following Barrick's acquisition of his previous employer Randgold Resources.

Similarly, Barrick rival Newmont said its chief executive, Tom Palmer, is retiring after more than five years at the helm of the mining company, handing the reins to key lieutenant Mark Hill.

Shares of American Resources Corporation rose after the company said its Element Technologies unit agreed to a partnership with an arm of South Korean steelmaker Posco to advance U.S. rare-earth refining capabilities.

The governments of Canada and Ontario are providing Algoma Steel Group with a half-billion Canadian dollars of financing that the company says it needs to survive the Trump administration's 50% tariffs on the metal.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

09-29-25 1721ET