The price of Gold started the new week with gains, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
Lead prices surged after a sharp rise in LME warehouse withdrawal requests, while SHFE data shows growing inventories across major base metals, ING's commodity experts Ewa Manthey and Warren Patterson note.
The EU announced its 18th sanction package against Russia at the end of last week, which involves tougher sanctions against the Russian energy sector. This includes lowering the Oil price cap for Russian crude from US$60/bbl to US$47.60/bbl. It will come into force on 3 September.