Bearish inflation figures in US, as well as build in oil stocks signaling decreasing demand, limit price upticks, while Saudi Russia supply cutbacks continue to put upward pressure on prices.
Oil markets have been relatively subdued at the start of the week, but the potential of Kurdish oil flows finally coming back online is adding downward pressure to prices.
Gold prices rallied in Monday s trading from a fresh 5-month low after speculators grew their bearish bets against bullion ahead of this week s Jackson Hole central-bank speeches