As expected, the prices of gold and copper are down ahead of the US Federal Reserve Chair Janet Yellen's much anticipated annual speech on the direction of monetary policy.
Frenzied investors piled into the metals and mining sector on Friday as a rally on commodity markets led many to believe the market has reached a bottom after more than three years of declines.
A feeble attempt at a rally yesterday evaporated on Friday with the copper price hitting a fresh six-and-half year low of $1.9365 a pound ($4,270 a tonne) after falling nearly 2% in New York.