Producers of metals and other raw materials rose, but not by much, as the U.S. dollar continued its march higher in the wake of inflation data, weighing on metals prices.
The Labor Department reported that consumer prices in October rose 2.6% from a year earlier, accelerating from 2.4% in September.
The dollar tested two-year highs against rivals. That weighed on gold futures, which fell 0.7% to $2580.80 per ounce, and are now down by more than 4% in the last four sessions. Investors are wagering that the Trump administration's policies will renew inflation pressures, crimping the Federal Reserve's rate-cut plans.
"While we think current price trends remain disinflationary, the new administration's policy proposals tilt inflation outlook risks to the upside," said strategists at brokerage BNP Paribas.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-13-24 1754ET
