Materials Slide as U.S. Dollar Spike Continues -- Materials Roundup

Producers of metals and other raw materials fell sharply as a rising U.S. dollar weighed on commodity prices.

Gold futures fell 0.4% to $2600 an ounce, losing ground for the fourth straight session as traders bet inflationary policies from the Trump administration would force the Federal Reserve to slow the pace of rate cuts. Gold prices have now fallen 7% since Oct. 30 as the U.S. dollar's resurgence weighs. Industrial metal futures also declined on disappointing Chinese stimulus and a stronger U.S. dollar.

Shares of Tyson Foods registered their biggest gain in nearly three years after the meatpacker posted fiscal fourth-quarter earnings ahead of analyst expectations, as strength in beef and chicken offset weakness in prepared foods and pork.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

11-12-24 1800ET