Metals Up as Oil Price Spike Slows - Metals Roundup

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Producers of metals, grains and other raw materials ticked up as a spike in oil prices slowed.Gold and silver futures fell after the U.S. dollar gained due to the inflationary risks associated with the planned U.S. blockade of the Strait of Hormuz.Silver futures fell to $75.52 a troy ounce, more than twice the level a year ago, but down by more than one third from their recent highs."It's hard to see how these higher fuel prices are not inflationary, but there's certain economists say they're not just the temporary blip and have to keep your eye on the long end revert downward when things smooth out in Iran," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.Write to Rob Curran at [email protected]

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