The S&P materials sector index closed the week +0.03%, and the materials sector SPDR ETF (XLB) +0.01%.
Gold prices fell during trading on Thursday as the US dollar recovered and some investors appeared to take profits after prices touched its highest intraday level in nine months. Afterwards he fell even more much stronger than expected Data on US non-farm payrolls fueled fears that the Federal Reserve may continue to raise interest rates.
April Comex gold (XAUUSD:CUR) -2.3% to $1,886.60/oz, poised for a sixth loss in seven sessions, and March silver (XAGUSD:CUR) -4.3% to $22.59/oz.
And copper prices fell by the most in nearly seven weeks on Wednesday as worries about demand outweighed supply disruptions and bets that the end of China’s COVID-19 restrictions would reignite growth.
First-month Comex copper ( HG1:COM ) for February delivery closed -2.7% at $4.111/lb, its fifth loss in the past seven sessions and its biggest drop since Dec. 15. Three-month copper on the London Metal Exchange fell 2.4% for the week.
Check out this week’s top gainers among basic materials stocks (market cap of $2 billion or more):
- Scotts Miracle-Gro (SMG) +23.7%; Shares jumped after beating expectations for FQ1 adjusted earnings and revenue.
- Quaker Chemical (KWR) +10.16%
- Worthington Industries (WOR) +12.02%
- Constellation (CSTM) +10.08%
- Lithium America (LAC) +9.80%
Here are the five biggest losers among the basic material stocks:
- Aviation Products and Chemicals (APD) -9.10%; Shares fell to near three-month lows after reporting disappointing earnings and second-quarter earnings-per-share guidance.
- Gold fields (GFI) -7.92%
- Agnico Eagle Mines (AEM) -7.45%
- Kinross Gold (KGC) -7.40%
- OK OK) -7.13%
Other Materials ETFs to Watch: iShares Global Timber & Forestry ETF (WOOD), Materials Select Sector SPDR ETF, Vanguard Materials ETF (VAW), iShares Global Materials ETF (MXI), SPDR S&P Metals and Mining ETF (XME), VanEck Vectors Gold Miners ETF (GDX), iShares MSCI Global Gold Miners ETF (RING), Global X Copper Miners ETF (COPX).