Materials Companies Fall With Gold Prices — Materials Roundup
Shares of materials companies fell along with gold prices under pressure from a stronger dollar. Gold futures fell $150.80, or 3.5%, to $4135.40 a troy ounce for their biggest single-day decline since June. Gold has fallen in five of the past six sessions.
Northern Star Resources rejected a US$27.2 billion takeover proposal from Gold Fields that could have created the world's second-largest gold producer, saying it was highly opportunistic and materially undervalued Australia's biggest gold miner. In response, South Africa's Gold Fields said it will continue to seek talks with the Northern Star board, arguing that a tie-up would have strategic and financial benefits by combining eight of Australia's top 20 gold mines. The bid came as Northern Star faces mounting pressure from activist investor Elliott Investment Management for sweeping changes.
Write to Patrick Sheridan at patrick.sheridan@wsj.com
(END) Dow Jones Newswires
September 28, 2026 17:32 ET (21:32 GMT)
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