Producers of metals and other raw materials ticked down amid nerves ahead of May jobs data.
Stakes are high, with the U.S. dollar trading near a multiyear low in anticipation of a weak report.
The European Central Bank cut interest rates for the eighth straight meeting. Bullish investors are hoping that the Federal Reserve follows suit, but that decision could hinge on Friday's jobs data.
A stronger-than-anticipated jobs growth could drive up the value of the dollar, and weigh on gold futures. Gold slipped Thursday, but remains within 2% of record highs.
Commodities trading house Trafigura warned of near-term commodities market turbulence amid geopolitical and macroeconomic instability, uncertain trade policies and the threat of increasing inflation.
Initial jobless claims rose by 8,000 to an eight-month high of 247,000 in the seven days ended May 31.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
June 05, 2025 17:20 ET (21:20 GMT)
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