Producers of metals, grains and other raw materials rose as crude-oil futures levelled off.
Gold futures have given back some of their 2026 gains in recent weeks because of traders' growing anticipation of rate hikes this year.
A Federal Reserve rate increase would drive up the value of the dollar, weighing on commodities prices. Minutes from the Fed's most recent meeting released this week bolstered those expectations.
"While the minutes suggest the preference is to leave rates steady for the time being, hikes were discussed at the meeting," said economists at brokerage Bank of America Global Research, in a note to clients highlighting "an even more hawkish tone."
Write to Rob Curran at rob.curran@dowjones.com
