Basic Materials Roundup: Market Talk

1444 ET – Gold futures fall further, with investors having the benefit of Fed Chair Powell’s press conference following the central bank’s 25 basis point rate cut Wednesday. “I don’t think metals liked Powell’s comment regarding his hardline stance against the idea of a 50 [basis-point] cut,” says John Caruso of RJO Futures in a note. Caruso adds that longer-term, a Fed program with several rate cuts ahead is supportive for gold prices.

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