Materials Flat As Dollar Rises - Materials Roundup

Features Dow Jones Newswires

Shares of miners and other commodities producers were flat as the dollar rebounded against major currencies because of increased confidence in the stability of the U.S. government. Gold futures, which had benefited from the slump in the dollar in recent sessions, retreated on Thursday. Fears that President Donald Trump's ability to work with Congress would be hindered by a series of scandals were mitigated by the appointment of a special counsel. Former FBI Director Robert Mueller was seen as an acceptable appointment to both sides of the aisle for the investigation of alleged Russian links to the Trump campaign. Correlation between metals prices and mining companies has been high since 2004, but prior trends and strength in operating earnings suggest that there could yet be a decoupling of the two, said analysts at brokerage Deutsche Bank, in a research note.

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-Rob Curran, rob.curran@dowjones.com

Shares of miners and other commodities producers rose as the dollar weakened against other currencies. The price of copper rose as fears about slowing growth in China were mitigated by recent economic data. Gold futures rose slightly and remained above $1250 an ounce, in reach of their 2017 highs above $1300 an ounce.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

May 19, 2017 16:48 ET (20:48 GMT)