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GOLD

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Materials Up On Transition, Stimulus Hopes -- Materials Roundup

11/24/2020 | 04:24pm EST

Producers of metals and other raw materials rose as the Trump administration's agreement to cooperate with the Biden administration's transition plans was seen as removing one of the last major risks to the economic-recovery picture.

The formal beginning of the transition also buoyed hopes for another economic-stimulus bill.

Copper futures tested a seven-year high, reflecting anticipation for accelerated economic activity worldwide in 2021 as vaccines become available and the world moves on from the horrors of the Covid-19 pandemic.

Gold futures, a favorite safe haven when the pandemic outlook was at its most dire, lost $33.00 per troy ounce, or 1.8% to close at $1804.80 an ounce.

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

(END) Dow Jones Newswires

11-24-20 1623ET

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