Producers of metals and other raw materials fell.
Gold prices headed sharply lower for a second day, with downward momentum for the precious metal gaining some steam after the Federal Reserve said that it wasn't inclined to use unconventional methods to keep interest rates low, even as the central bank offered a pessimistic outlook for the economy.
In their discussions, reflected in the minutes from the central bank's meeting on July 28-19 that were published a half-hour after Comex metals settled on Wednesday, Fed officials said there had been an increase in uncertainty about the economic outlook since their prior meeting in mid-June.
South African gold miner Gold Fields Ltd. said Thursday that net profit for the first half surged, buoyed by higher gold prices, and increased its cost guidance for the year as it warned of continuing uncertainty due to the coronavirus pandemic.
Write to Amy Pesseto at Amy.Pesseto@dowjones.com
