Basic Materials Roundup: Market Talk

The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1840 GMT - Gold futures settle lower after Fed Chairman Kevin Warsh expressed concerns about underlying inflation, prompting shorter-term Treasury yields to rise. The fundamental environment remains supportive for gold, "although the market has become increasingly sensitive to expectations surrounding U.S. monetary policy," XS.com senior market analyst Rania Gule says in a note. "The key question for investors and traders is not whether gold has pulled back, but whether this decline marks the beginning of a deeper bearish reversal or simply a temporary pause before the uptrend resumes." Front month gold settles down 2.87% to $4,478.10 a troy ounce. Silver falls 3.51% to $66.995 a troy ounce. (anthony.harrup@wsj.com)

1433 GMT - Gold futures extend their decline after Fed Chairman Kevin Warsh expresses concerns about inflation in a speech at Jackson Hole, pushing Treasury yields higher. Analysts see any hawkish tone from the Fed as bearish for gold, which saw a recent recovery on Treasury Department plans to increase bond purchases. Most active gold is down 1.7% in New York. Silver falls 1.5%. (anthony.harrup@wsj.com)

0959 GMT - Boliden's acquisition of Nexa Resources will significantly expand the group, creating a global zinc leader with a top three position in mining and smelting, Deustche Bank analyst Liam Fitzpatrick writes. Swedish miner Boliden has reached an agreement to purchase Votorantim's 65% stake in Nexa and has committed to a voluntary tender offer to purchase the remaining 35% of shares owned by minority shareholders. The deal will increase Boliden's consolidated Ebitda by over 35% and expand the number of operating assets from 12 to 20. The deal is expected to be immediately EPS accretive, reflecting Nexa's low multiple, Fitzpatrick adds. Deutsche Bank rates Boliden at hold with a 620 Swedish kronor target price. Shares rise 1.8% to 576.80 kronor. (dominic.chopping@wsj.com)

0828 GMT - Gold prices remain supported as investors fret about U.S. fiscal issues, ANZ analysts write. Investors are buying gold as they seek protection from runaway budget deficits and a weaker dollar, they write. Investors will also have a close eye on the Jackson Hole meeting for any signals on the path of U.S. interest rates. In New York, gold futures trade flat at $4,666.20 a troy ounce. (adam.whittaker@wsj.com)

(END) Dow Jones Newswires

August 29, 2026 04:20 ET (08:20 GMT)