- Gold prices held near the prior session’s nine-week high on Monday, as market players sought refuge amid heightened volatility in global stock markets. Chinese stocks markets plunged again on Monday, with the Shanghai Composite Index and the CSI300 Index both closing down more than 5% despite efforts by Beijing to stabilize the market.
- Oil prices held near the lowest levels in more than a decade on Monday, as further turmoil in the Chinese stock market added to concerns over the Asian nation’s economy. The Shanghai Composite Index closed down 5.3%, the smaller Shenzhen Composite Index sank 6.6% and the CSI300 Index lost 5%, despite efforts by Beijing to stabilize the market.
- Copper prices tumbled to the lowest level since April 2009 on Monday, as steep declines on Chinese stock markets dampened appetite for the red metal.Copper for March delivery on the Comex division of the New York Mercantile Exchange plunged 4.6 cents, or 2.28%, to trade at $1.970 a pound as of 08:00 GMT, or 3:00AM ET. It earlier fell to $1.966, a level not seen in more than six years.Meanwhile, three-month copper on the London Metal Exchange slumped 2.26% to $4391.25 a metric ton, the lowest since May 2009.
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