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Materials Shares Rise; Gold Prices Slip — Materials Roundup

Producers of metals and other raw materials edged higher.

Gold prices came off a one-month peak, trading lower as the U.S. jobs report showed employers hired far more workers than expected in July, pushing Treasury yields and the dollar higher.

The first convoy of ships carrying Ukrainian grain sailed from the port of Odessa, in a sign that last month's agreement with Russia on facilitating Ukrainian food exports is holding even as fighting raged across the country.

Global prices for food fell sharply in July, as prices of vegetable oil and grains eased, the Food and Agriculture Organization of the United Nations said. The FAO's food-price index, a closely watched barometer of global food prices, averaged 140.9 points in July, down 8.6% from June. The July decline was the steepest monthly fall in the value of the index since October 2008, although it still remained 13% higher than in July 2021. Prices for food hit a record high in March.

 Write to Amy Pessetto at 

(END) Dow Jones Newswires

August 05, 2022 17:07 ET (21:07 GMT)

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