The selloff hit producers of grains and industrial metals alike, driven by the inverse relationship between the strengthening greenback and dollar-denominated commodities. Silver futures fared particularly poorly, touching their lowest point since November 2025. Gold futures, meanwhile, finished the session roughly 1% above their 52-week floor, underscoring the bearish sentiment gripping the sector.
In section Market Quotes
Raw Materials Slide as Dollar Strength Pressures Precious Metals
Gold futures breached the $4,000-per-ounce threshold as investors braced for the Federal Reserve’s upcoming October meeting. With the U.S. dollar climbing toward multiyear highs, the broader commodities market faced a sharp retreat, leaving precious metals clinging to levels just above their annual lows while silver hit a multi-year trough.
Amid the market turbulence, trade policy shifts are emerging as a political lever. The U.S. administration is preparing to eliminate 50% tariffs on specific Canadian forestry and agricultural goods. This move is widely viewed as a strategic effort to bolster the electoral standing of Sen. Susan Collins and fellow Republicans ahead of the looming midterm contests.
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