Gold futures climbed 6.1% to settle just above $4,900 a troy ounce, marking the largest single-day gain for the metal in 17 years. This recovery follows a dramatic plunge from record highs exceeding $5,000 on Friday. Silver followed a similar trajectory, gaining 8.2% to reach $83.04 an ounce, though it remains significantly below its recent peak of $120.
In section Market Quotes
Materials Sector Rallies as Precious Metals Rebound From Rout
Raw material producers saw a significant lift as gold and silver prices recovered from a historic selloff. The rebound, led by a massive surge in gold futures, helped stabilize a sector that faced extreme volatility late last week.
Strategic Mineral Supply
In the mining sector, Ivanhoe Mines saw its shares jump following reports of high-level trade discussions. The company confirmed it is in talks to supply critical minerals from its Democratic Republic of Congo operations to the Trump administration’s proposed $12 billion national stockpile.The broader materials sector benefited from this renewed stability in commodity pricing. Market observers suggest the rebound indicates a shift in sentiment as investors move past the historic rout that characterized last week's trading sessions.
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