"The global coronavirus outbreak has contributed to significant financial market volatility," US treasury secretary Steven Mnuchin said yesterday as he approved a primary dealer credit facility to provide liquidity to the financial system.

He also showed commitment to keeping US financial markets open but told reporters this could be with reduced trading hours.

London's FTSE 100 rose 2.79% yesterday but China's Shanghai Composite Index lost 0.34% and market futures are mixed.

Base metals closed lower on the London Metal Exchange and Marex Spectron's Alastair Munro said yesterday "unsurprisingly, implied volatility has increased between 4-13% so far this month depending on the metal".

The spot gold price has ranged from almost US$1,460-$1,560 an ounce in the past 24 hours and was last trading about $1,535/oz.

Gold major Newmont (NYSE: NEM) closed up 12.45% yesterday and diversified miner Teck Resources (TSX: TECK.B) lost 4.58% in Toronto.

Copper miner Antofagasta (LSE: ANTO) was the biggest market riser on London's FTSE 100 on Monday, gaining 16.05% after unveiling preliminary results and holding firm on 2020 guidance.