The British pound wiped out earlier losses and inched up against the US dollar today, after the market digested the opinion polls that showed the Labour Party taking the lead ahead of Tories.

Some fear Labour's victory in the December 12 snap election, as it would complicate the Brexit crisis further, because of Jeremy Corbyn's party stance.

Whilst, if the Conservative Party led by Prime Minister Boris Johnson won the majority of parliament seats, the Brexit uncertainty could be resolved, especially after Johnson pledged to exit on January 31 with no delays.

As for trading, GBP/USD rose by 0.1% to 1.2948 as of 20:28 GMT, the pair hit an intraday high of 1.2949 and a low of 1.2896.

Silver prices fell on Monday, as precious metals tumbled in sell-off, despite renewed trade concerns over the US-China trade talks and a drop in the US dollar.

US President Donald Trump said that the US was ready to increase the tariffs on imports from China if no trade deal is reached.

Trump also said that Beijing still wants a trade deal, adding "we'll see what happens in the coming period".

The US president stated that he intends to impose tariffs on steel imports from Brazil and Argentina due to the two countries manipulation of their currencies' exchange rate.

Otherwise, the dollar index fell against a basket of currencies by 0.4% to 97.8 points as of 20:36 GMT, and hit an intraday high of 98.3 and a low of 97.8.

Silver March futures lost 0.8% and closed at $16.966 an ounce, with a high of $17.10 and a low of $16.895.

Gold prices fell on the first session of December,, despite a drop in the US dollar and renewed trade concerns over the US-China trade talks.

US President Donald Trump said that the US was ready to increase the tariffs on imports from China if no trade deal is reached, adding that Beijing still wants a trade deal

Trump also said that there's hurdles in the way of the trade talks, especially after he signed the Hong Kong bill to support protesters, which doesn’t make the trade talks with China "better."

Otherwise, the dollar index fell against a basket of currencies by 0.4% to 97.8 points as of 19:49 GMT, and hit an intraday high of 98.3 and a low of 97.8.

God futures for February delivery fell by 0.2% and settled at $1,469.20 an ounce, with a high of $1,471.7 and a low of $1,459.8.

Oil prices rose today the next OPEC meeting this week, but gains were capped due to renewed concerns about trade talks between the US and China.

Trump said the signing of the Hong Kong bill to support protesters doesn’t make the trade talks with China "better."

The US Commerce Secretary in Washington stated the Trump administration might impose tariffs hike against China if no trade agreement was reached.

An agreement between OPEC delegates and independent allied producer is expected this week, during the next meeting in Vienna to discuss the output cut agreement, amid expectations of a deepning cut.

As for trading, West Texas Intermediate rose 1.6% to $56.07 a barrel as of 17:44 GMT, and hit an intraday high of $56.6 and a low of $55.4.

Brent rose 1.2% to $61.2 a barrel, with a high of $62.09 and a low of $60.7.