Equities in Japan, Hong Kong and Australia were bearing the brunt of a risk-off mood today, Bloomberg reported, following a weekend of warnings on global economic fragility from finance chiefs at an annual IMF gathering, and a Brexit deal hanging in the balance.
Metals and mining stocks on the benchmark S&P/ASX200 were down more than 1% at the time of writing, with diversified equities down more than 1.3% and the gold sector off about 0.3%.
The FTSE100 had finished lower on Friday but the select miners on the index showed a lift of 1.41%, buoyed in part by Mexico precious metals miner Fresnillo's rise of 4.46%.
The air of caution has provided a lift to the gold price with bullion seemingly resuming its safe haven status.
It's back at levels last seen at the end of July, above US$1,222 an ounce on the spot market earlier.
Toronto's metals and mining sector finished lower on Friday with gold miner SSR Mining (TSX: SSR) an outlier with its gain of 11.68% as it said it was likely to meet or exceed annual guidance for the seventh consecutive year.
Meanwhile, minutes from the US Federal Reserve's latest policy meeting are due out mid-week and set to be scoured for indications of further rate rises.
