- Copper prices rose to a more than one-week high on Monday, amid speculation that Chinese metal producers will scale back production to combat falling prices.Copper for March delivery on the Comex division of the New York Mercantile Exchange inched up 0.3 cents, or 0.16%, to trade at $2.116 a pound during morning hours in London.
- Brent oil sank to the lowest level since July 2004 on Monday, as ongoing jitters over a global supply glut drove down prices.On the ICE Futures Exchange in London, Brent oil for February delivery dropped 44 cents, or 1.21%, to trade at $36.44 a barrel during European morning hours. It earlier fell to $36.05, a level not seen in more than 11 years.
- Gold rose on Monday, adding to Friday’s gains amid skepticism over the Federal Reserve’s ability to raise interest rates as much as it would like next year.Gold for February delivery on the Comex division of the New York Mercantile Exchange tacked on $4.00, or 0.38%, to trade at $1,069.00 a troy ounce during European morning hours. On Friday, gold jumped $15.40, or 1.47%.
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