[MARKET ANALYSIS] Crude choppy with specifics light. XAU at another ATH

Crude on the backfoot but only marginally so. Spent the APAC session in a narrow range with complex-specific newsflow somewhat light as the market focus remains on Greenland and the tariffs stemming from it.
However, into the early European morning, the complex sold off to a USD 58.53/bbl and USD 63.38/bbl low for WTI and Brent, respectively. No complex-specific driver for this; instead, the move appears to be a function of the broader risk tone taking hold and hitting the space with relative USD strength at the time also factoring.
Since, the move has reversed and WTI and Brent are towards highs of USD 59.59/bbl and USD 64.27/bbl, firmer by c. USD 0.20/bbl at best. Again, no specific fundamental behind the reversal, but potentially a function of the USD weakness seen on Treasury Secretary Bessent's remarks.
Spot gold at highs, printed another ATH of USD 4737/oz given the risk tone and despite the morning's significant yield strength.
Base peers in the red. 3M LME Copper down to USD 12.8k/T, within reach of Friday's USD 12.7k/T base and back towards opening levels from early-January.
Note, Shanghai's exchange is currently making announcements regarding margin requirements and price limits.