Materials Shares Slide as Global Bond Selloff Pressures Metals Prices
A renewed global bond selloff pushed yields to record highs, tightening financial conditions and weighing on precious metals. Gold futures fell 0.4% and silver dropped 1.4%, reflecting higher real-rate pressure and reduced appeal of non-yielding assets. Separately, rising diesel prices improve biodiesel economics, while Knife River's engagement with activist Starboard highlights margin scrutiny in construction materials, with limited broad macro spillover.
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▼ Bearish
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A prolonged global bond selloff has pushed yields to record highs, weighing on precious metals. Front-month gold futures on the New York Mercantile Exchange settled down 0.4% at $4,263.00 a troy ounce, while silver futures fell 1.4% to $63.457 a troy ounce. Separately, higher regular diesel prices are boosting margins for biodiesel producers, and construction-materials company Knife River said it plans to engage with activist investor Starboard Value after the fund took a significant stake in the company.