LGO - Materials Sector Weekly Round-up: Huntsman tops list; Albemarle drops after tepid 2022 guidance

The S&P Materials sector closed this week marginally up at +0.19%, with the Materials Select Sector SPDR (NYSEARCA:XLB) taking a slight dip at -0.24%. Gold prices (XAUUSD:CUR) were the highlight this week, crossing the $1,900 per oz mark and closing positive in all but three sessions so far this month. The commodity has also touched a fresh eight-month high as investors have gravitated toward the risk-off instrument with inflation concerns continuing to swirl around the market. SA contributor Mike Fay noted that global uncertainty could also push silver prices (XAGUSD:CUR), with conditions in Russia/Ukraine and Canada fueling investor movement towards precious metals. Silver closed at $23.91, around 2.4% higher than the start of the month. Uncertainty in Canada also drove up lumber futures (LB1:COM) to their highest in a month, with two top Canadian producers curtailing output and transportation snags disrupting shipments to customers. Take a look at this week's top gainers

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Materials Sector Weekly Round-up: Huntsman tops list; Albemarle drops after tepid 2022 guidance