Commodities: Copper, Brent under pressure as Greenback notches-up 52-week high

A widely-followed gauge for the commodities complex was trading near 52-week lows on Wednesday evening as the US dollar spot index printed a fresh one-year high - possibly paving the way for an even bigger move higher.

As of 1848 GMT, the Bloomberg commodity index was retreating 0.96% to trade at 83.58 as the Greenback climbed 0.43% to 96.9930.

Pushing the US currency higher, overnight the US president upped the ante on trade with Beijing, telling Fox News that he expects a "great deal" with China - even as he brandished the threat of expanded import tariffs.

The possibility of the latter was first reported by Bloomberg, according to which tariffs would be placed on all Chinese goods if an expected meeting between the US president and his opposite number in China, on 30 November-1 December, did not succeed in easing tensions.

The new tariffs might be enacted shortly thereafter and kick-in 60 days afterwards, three sources told Bloomberg.

On the heels of those reports, three-month copper futures on the LME fell from $6,127 per metric tonne to $6,032 per tonne, alongside losses for the other main base metals contracts, outside of nickel.

Front-dated Brent was also lower, shedding 1.89% to $75.88 a barrel on the ICE. December gold on COMEX was also down, but just a touch, dipping 0.17% to $1,225.50/oz..

In agriculturals, investors in most contracts were also nursing losses, with December wheat on CBoT the worst of bad crop and losing 1.48% to $4.9975 a bushel.