The strong dollar sank the metals and oil

The dollar continued with its exceptionally strong appreciation over other major currencies. Especially strong was the growth of the US dollar against the New Zealand dollar. The appreciation of the dollar has adversely affected metal prices. However, their decline was relatively limited. Silver is traded at levels of 15.25 dollars per ounce and gold at $1,208. Platinum lost at least its value, swapping at levels of about $820 per ounce.
Oil also fell on the first day of the new week. The reason for this was the growing tension in world trade, especially in Asia, although US sanctions against Iran support prices to some extent and lead to more limited supplies.
Brent fell 21 cents to 72.60 dollars a barrel, compared to Friday's closing price. The decline in US crude oil, which dropped by five cents to $67.60 a barrel, was far farther.
Keeping the bearish sentiment on the market, hedge funds and other financial managers have cut their oil futures positions in the US in the week ending August 7, according to the CFTC US Trends Trading Commission on Friday. Total long positions in New York and London were 9,117, to a total of 397,885, the lowest level since June 19, according to CFTC data.