Producers of metals, grains and other raw materials rose as deal activity continued among gold miners.
Equinox Gold and Orla Mining agreed to combine in a deal that would create a new $18.5 billion North American gold miner.
Gold futures ticked up 0.4% to $4697.70 an ounce in the wake of surprisingly strong wholesale inflation data. Even after a recent retreat, the price of the precious metal is up 48% from 12 months ago, triggering a wave of consolidation that includes the recent $7.67 billion merger deal between Australian miners Regis Resources and Vault Minerals.
"While energy markets have captured most of the attention since the start of the Iran conflict, strength across the broader commodity complex has been equally notable this year," said Adam Turnquist, chief technical strategist at brokerage LPL Financial, in a note to clients.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-13-26 1744ET
