Several countries in Europe, including Italy and France, have imposed new lockdown measures over the past week to curb rising infection rates.
Oil slumped 6.2% to $57 per barrel at midweek. The recovery of the oil price had picked up pace since January with the roll-out of the Covid-19 vaccine. The price peaked at more than $66 earlier this month.
Gold also lost ground, falling to $1727.50 an ounce, from $1744/oz, as the US dollar as Federal Reserve chair Jerome Powell addressed Congress.
Aluminium dropped more than 2%, while nickel, copper and zinc and lead each lost over 1%.
The big four diversified miners in London lost a collective 1.4%, while gold miners in Toronto lost 1.8%.
