Producers of metals and other raw materials fell sharply as the dollar rebounded against other currencies following a prolonged slide.

The dollar weakness has driven gold futures to all-time highs, said one strategist. "Could this be a continuation of investor sentiment believing the Fed is to start easing rates next year?" said J.D. Joyce, president of Houston money manager Joyce Wealth Management. "Assuming the U.S. dollar weakens as a result, perhaps there could be more upside for dollar denominated assets such as gold and oil -- all things being equal." Uranium prices have climbed to their highest level in more than 15 years, as investors worldwide anticipate a return to nuclear-power technology, The Wall Street Journal reported. First Quantum Minerals may not see a resolution to its Panama mine issue until the next elections next year, said analysts at brokerage Bank of Montreal, as reported earlier.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

12-04-23 1850ET