Materials' Gains Checked by Dollar Strength - Materials Roundup

Producers of metals and other raw materials rose, but not by as much as the broad market, as a strong dollar weighed on the sector.

Gold futures fell for the third straight session, slipping below the $2,000-per-ounce psychological milestone, as traders braced for strong inflation data.

Such expectations buoyed the dollar against rival currencies, weighing on dollar-sensitive precious-metals prices.

Corn futures rose ahead of a supply estimate from the Department of Agriculture.

Shares of Canadian miner Teck Resources fell after executives said a strategic overhaul, which could include a spinoff of steelmaking coal operations, was a better course forward for the company than the recently rejected buyout from metals trading giant Glencore.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

04-10-23 1651ET