Markets are down overnight as oil prices rise above US$100 ($142) a barrel again, while long-dated US bonds sell off.
This cuts short the relief rally that had been lifting US share markets earlier in the week. The Nasdaq fell 1.1%, while the S&P 500 fell 0.8%. The Cboe Volatility Index (VIX) also rose again.
The ASX SPI fell 104 points, or 1.2%, and the local market is set to open lower today. The Australian dollar is back at around US$0.70. Copper, aluminium, and zinc were lower in London trade.
Gold dropped back below US$4,300 per ounce. In tragic news, a worker was killed at the Escondida mine in Chile, operated by BHP Group (ASX:BHP), with operations subsequently suspended.
Bloomberg reports that North American gold and silver miners are buying back shares at a record rate, based on data going back to 1997.
Write to Callum Newman at Mining.com.au
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