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European shares rallied while several African markets declined as regional factors drove divergence.

Silver rose above $57 an ounce and copper advanced on October 19 as the dollar softened, extending a mixed but constructive start to the week for industrial and precious metals.

The US dollar retreated from multi-month highs as concerns about artificial intelligence capital expenditure and credit stress in technology infrastructure pushed Treasury yields lower and softened the Dollar Index toward 101.80.

Gold climbed above $4,180 an ounce on Monday as Federal Reserve Chair Kevin Warsh struck a softer tone on rates and a global equity selloff driven by AI-spending concerns pushed investors toward safe havens.

US consumer prices rose 3.7 per cent year on year in September, above expectations, jolting global markets and lifting bets that the Federal Reserve may raise rates.