Commodities outperformed most sectors on Monday - UOB
Analysts at UOB Group noted that commodities outperformed most sectors on Monday, with oil and metal prices both posting sharp gains by Europe’s close.
"Oil prices surged to the highest levels in more than two years after the Saudi crown prince purged a number of princes and ministers.
The international benchmark Brent crude topped $64/bbl, whilst US crude broke above $57/bbl. Gold rose more than 1 percent on Monday, extending gains as geopolitical risks drove investors to safe-haven assets after the metal’s third-straight weekly decline. The weaker US dollar also boosted gold prices."