Yellen Reignites Commodities Rebound From Gold to Copper
- Teck leads mining-stock gains as Freeport-McMoRan climbs
- All six main metals traded on LME advanced; zinc up 5%
Gold Still Crushes It in 2016
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Federal Reserve Chair Janet Yellen’s dovish message reignited a commodities rebound that pushed up everything from gold and copper to miners including Teck Resources Ltd. and Freeport-McMoRan Inc.
The Fed on Wednesday signaled it won’t raise interest rates as much this year as forecast in December amid weakening global economic growth, sending gold prices surging just after futures capped the longest slump since November. A gauge of 14 gold miners climbed to the highest in more than a year, while the Bloomberg Americas Mining Index surged to an eight-month high.