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(Sharecast News) - Precious metals miners' shares paced losses on Tuesday, as investors girded themselves for the result of the U.S. central bank's two-day policy meeting.
Policy-makers at the Fed were widely expected to announce their decision to keep rates on hold the next day.
But it remained to be seen just how hawkish Fed chief Jerome Powell would choose to be.
Nevertheless, in the background, financial markets were arguably already doing some of the work for him, with Treasury yields grinding their way back towards their 2023 highs.
In parallel, the U.S. dollar spot index was adding 0.57% to 106.18 as of 1742 BST.
Adding to the bid in the Greenback, data on first quarter employment costs in the U.S. printed ahead of forecasts.
Gold futures were off by 2.11% at $2,307.90/oz. on COMEX, whilst silver futures were retreating by 3.51% to $26.69/oz..
As an aside, Israeli PM, Benjamin Netanyahu said on Tuesday that an invasion of the southern city of Rafah would take place no matter the result of truce talks with Hamas.
Reports overnight had appeared to indicate that Tel Aviv might forego an invasion should Hamas release all remaining hostages.
Top performing sectors so far today
Banks 4,158.78 +2.25%
Leisure Goods 24,736.20 +0.91%
Retailers 3,915.52 +0.72%
Personal Care, Drug and Grocery Stores 3,978.69 +0.67%
Food Producers 8,128.53 +0.66%
Bottom performing sectors so far today
Precious Metals and Mining 10,308.67 -3.42%
Telecommunications Service Providers 1,791.62 -2.53%
Life Insurance 5,650.64 -2.50%
Automobiles & Parts 1,212.58 -2.25%
Industrial Transportation 4,222.61 -2.13%
