Materials Up After Powell Statement - Materials Roundup

Producers of metals and other raw materials rose, shaking off early weakness after Federal Reserve Chairman Jerome Powell hinted at more interest-rate cuts to come.

Powell highlighted weakness in the job market despite lingering concerns over sticky inflation.

Economically sensitive sectors also received a lift from a comment around midday from the U.S. Trade Representative that President Trump and Chinese counterpart Xi Jinping were on track to meet.

Two of the biggest U.S. timberland owners, Rayonier and Potlatch Deltic, struck an all-stock merger deal that would create a more than $7 billion forestry giant.

Soybeans were under pressure amid fears of a boycott. On social media, President Trump said he considered the Chinese refusal to buy U.S. soybeans an "economically hostile act."

Precious metals futures closed at new record highs, with gold adding 0.7% to close at 4,138.70 a troy ounce, sparking traders' predictions that the yellow metal could test the once unthinkable $5,000-per-ounce level.

Gold and silver have surged in recent weeks due to a "debasement" trade, where traders bet the U.S. dollar and other fiat currencies will be devalued long-term by central-bank and trade-policy actions.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

October 14, 2025 17:25 ET (21:25 GMT)