Metals-Miners Run Out of Steam as Citigroup Cuts Outlook

Shares of gold and base-metals producers, among the best-performing industries on the S&P 500 Index this year, are showing signs of fatigue. A stronger dollar and concerns over the prospect of higher U.S. interest rates are helping send a gauge of gold-mining companies tracked by Bloomberg Intelligence to the biggest monthly decline in more than a year, while a base-metals index slides toward its first such loss since May. Citigroup Inc. cut its six-month stance on the industry to bearish, reversing an upgrade of the sector following the Brexit vote.

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