Australian aluminium producer South32 (ASX:S32) was down more than 9% in late afternoon trade, the biggest decline among S&P/ASX200-listed stocks at the time of writing.

Toronto's metals and mining sector closed down 2.88% yesterday, where the largest loss was suffered by Glencore's Katanga Mining (TSX:KAT).

Its stock plummeted more than 49% on news it is facing legal action in the DRC where its joint venture partner wants to dissolve the company.

On a more positive note, Atalaya Mining (TSX:AYM) was one of the bigger risers in Toronto, up more than 14% after releasing a prefeasibility study for its proposed, low-cost Touro copper mine in Spain.

The spot gold price was about US$7 an ounce lower than this point yesterday, around $1,326/oz as the US dollar further strengthened.

The World Gold Council noted that while in recent years, short-term movements in the gold price had been influenced by US interest rates, the correlation was waning and the US dollar was again a stronger indicator of the direction of price.

"And, in our view, this will continue over coming months - even while the dollar won't explain gold's movements entirely," the council said.