A summary of trading in key commodities markets overseas:
Oil prices edged higher in New York as Washington's political leaders appeared to get close to a deal to re-open the government and avoid a default.
New York's main contract, West Texas Intermediate (WTI) for delivery in November, on Monday finished at $US102.41 a barrel, an increase of 39 US cents from Friday's close.
Earlier in London, Brent North Sea crude for November shed 24 US cents to finish at $US111.04 a barrel in London trade.
The New York benchmark futures contract spent a good part of the day in negative territory amid ongoing budget and debt ceiling talks between Senate Democratic and Republican leaders.
Gold futures settled higher but pared earlier gains as renewed efforts to bring House Democrats and Republicans together for US fiscal talks cooled appetite for a haven asset.
The most actively traded contract, for December delivery, on Monday rose $US8.40 or 0.7 per cent, to settle at $US1,276.60 a troy ounce on the Comex division of the New York Mercantile Exchange.
Gold prices rebounded from Friday's three-month low amid news that negotiations between the Obama administration and House Republicans broke down over the weekend.
Monday's gains came as some traders who wagered on gold to move lower closed out those bets to cash in their gains said Matt Zeman, a senior market strategist with Chicago-based futures brokerage Kingsview Financial.
Base metals on the London Metal Exchange (LME) closed mostly higher as import data from China supported hopes for better demand, although the ongoing gridlock in Washington weighed upon some traders.
At the close of open-outcry trading on Monday, LME three-month copper was c higher on Friday's settlement at $US7,254 a metric ton.
Aluminium closed 0.6 per cent lower at $US1,870 a ton.
Although export figures from China over the weekend disappointed, import figures provided a positive surprise, stoking hopes for better Chinese domestic demand for metals and, by extension, for higher prices.Chinese imports of copper and copper products totalled 457,847 tons in September, up 16 per cent compared with a year earlier and up 18 per cent from August.