Materials Down on Growth Concerns, But Gold Strong -- Materials Roundup
Shares of miners and other commodities processors fell as traders bet an apparent acceleration in global growth would not last. On Wednesday, IMF Managing Director Christine Lagarde noted the improved performance of the economy worldwide so far this year. But some of the causes for that acceleration -- including the restocking of commodities inventories after a price rout and reduction in mining capacity -- may already be exhausted. Gold futures hit a five-month high a session after President Donald Trump said the dollar was too strong and that he favored low interest rates. Gold prices often move in the opposite direction to the dollar.
-Rob Curran, [email protected]