Shares of miners and other commodities producers rose as higher interest rates indicated confidence among investors and Federal Reserve officials in the outlook for economic growth. Federal Reserve Bank of New York President William Dudley expressed confidence in the outlook for economic growth. The yield on the 2-year Treasury note hit its highest level of the year so far, driving up the relative value of the dollar. The dollar's strength weighed on gold prices, which settled down 0.8% at $1,246.70 a troy ounce, the lowest level since May 16.
-Rob Curran, [email protected]