Gold prices edged higher early Monday, moving closer to a 2-1/2-month peak hit last week, as Asian shares fell amid rising political tensions and worries over slowing global economic growth. Spot gold was up 0.1 percent at $1,227.56 an ounce at the time of writing. On Oct. 15, the bullion touched its highest since July 26 at $1,233.26. Asian share markets fell anew on Monday as investors braced for the peak of the U.S. earnings season while angst over Saudi Arabia, Italy and Brexit kept geopolitics front at the center. S
London copper prices rose for a second session in early Asian trade on Monday, extending a rally fuelled by a pledge from China’s central bank that it would support firms with liquidity problems. Three-month copper on the London Metal Exchange edged up 0.3 percent to $6,236.50 a tonne at the time of writing, extending a 1 percent jump from the previous session. The most-traded December copper contract on the Shanghai Futures Exchange climbed by 0.8 percent to 50,390 yuan ($7,270) a tonne.
Oil prices edged up on Monday, as markets were expected to tighten once U.S. sanctions against Iran’s crude exports are implemented next month. Front-month Brent crude oil futures were trading at $79.88 a barrel at the time of writing, 10 cents above their last close. U.S. West Texas Intermediate crude futures were at $69.31 a barrel, 19 cents above their last settlement. Also in the United States, Intercontinental Exchange (ICE.N) said its new Permian West Texas Intermediate crude futures contract deliverable in Houston, Texas, will begin trading on Monday.
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