Base metals were weaker on worries about the economy and demand for industrial goods, while gold edged up.
“The macroeconomic environment is on the bearish side of the ledger,” Peak Trading Research said, citing weakness in crude oil and commodity currencies like the Australian dollar and Brazilian real.
Peak added that markets will be looking ahead to Friday’s nonfarm payrolls figure in the and in turn how that affects Fed policy, though said it’s unlikely the Fed will hike rates again.