Commodity Capsule: Oil prices slip from near 10-month high; gold edges higher; copper rises | Watch video

Commodity Capsule: Oil prices fell from a 10-month high on Monday, under profit-taking after a stellar rally over the past month.

Bets on tightening supplies still kept Brent above key levels.

Markets turned cautious before US inflation data due later this week, which is largely expected to factor into interest rates.

A Federal Reserve meeting is on the radar this month.

Oil prices saw a strong run-up last week after Saudi Arabia and Russia announced deeper-than-expected supply cuts for the remainder of the year.

Uncertainty over interest rates and fears of a potential drop-off in US demand kept markets on tenterhook. 

Focus this week is on monthly reports from the Organisation of Petroleum Exporting Countries and the International Energy Agency. 

Gold edges higher on Dollar dip; investors eye US inflation data

Gold prices started the week on a firm footing on Monday, supported by a retreat in the dollar.

Investors await US inflation data due this week that would indicate the Federal Reserve's next interest rate move.

Bullion lost over 1 per cent in the previous week.

The US dollar dips under 105-mark level, and benchmark 10-year bond yields under 4.3 per cent.

London copper rises on signs of China's economic stabilisation

London copper rose on Monday after a weekly loss, as signs of economic stabilisation in China sparked demand hopes, although weaker yuan and rising inventories weighed on market sentiment.

Copper on LME gave up 3 per cent in the previous week, along with other industrial metals that slipped by 2-5 per cent w/w.

China's consumer prices returned to positive territory in August while factory-gate price declines slowed, as deflation pressures eased.

Earlier last week, trade data showed declines in the country's exports and imports slowed.

Copper stocks on SHFE rose for a third consecutive week on Friday to 54,955 tons.

Investors awaiting US inflation data due out later this week for further clarity over interest rate hikes.

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