NYMEX
Oil prices slid under $US40 on Monday on concerns that a deepening global economic downturn could spark a slump in demand for energy.
The market was also weighed down by news of a possible resolution to the ongoing Russia-Ukraine gas supply crisis.
New York's main contract, light sweet crude for delivery in February, slumped $US3.24 to $US37.59 per barrel on the New York Mercantile Exchange (NYMEX).
Brent North Sea crude for February shed $US1.97 to $US42.45 on London's InterContinental Exchange.
COMEX
Gold for February delivery fell $34.50 to settle at $US820.50 an ounce on the New York Mercantile Exchange.
Other precious metal prices were lower.
March silver lost 57 cents to $US10.75 an ounce, while March copper futures declined 0.071 cent to $US1.4885 a pound.
