Materials Flat as Rate Optimism Offset by Precious Metal Slide - Materials Roundup

Producers of metals and other raw materials were more or less flat as optimism about interest-rate cuts and trade deals was offset by the ongoing slide in precious metals.

The Federal Reserve is widely expected to cut rates on Wednesday, despite an up-tick in consumer-price inflation.

"It seems as though the slowdown in jobs is taking center stage even though inflation is running significantly higher than desired," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.

Precious metals fell sharply as fears of a trade war between the U.S. and China receded. Gold futures fell by 2.8% to test the psychologically significant $4,000-per-ounce level. Silver futures slid by 3.5% to $46.56 an ounce.

The U.S. and China are set to extend a truce in the trade war during negotiations this week. The U.S. will impose an additional 10% tariff on Canada, President Trump said on Saturday, citing an ad campaign that he said misrepresented comments by former President Ronald Reagan.

Cattle futures extended their pullback as the Trump administration's efforts to bring down beef prices continued to weigh.

A Rio Tinto -controlled company has asked law enforcement to help with an internal investigation into allegations of corruption and unethical conduct at the giant Oyu Tolgoi copper operation in Mongolia.

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

(END) Dow Jones Newswires

October 27, 2025 17:16 ET (21:16 GMT)