Shares of commodities producers rose after Federal Reserve Chairwoman Janet Yellen testified that the central bank would pause in its rate-hiking cycle if the recent downward pressure on prices of goods and services world-wide persisted. Ms. Yellen said she expects forces holding down consumer prices to fade in the months ahead, allowing the central bank to stick to its plans for gradual interest-rate increases. Gold futures, which are particularly sensitive to shifts in interest-rate expectations, recorded their third successive gain.
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(END) Dow Jones Newswires
July 12, 2017 16:31 ET (20:31 GMT)