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5 things to watch on the ASX 200 on Monday

On Friday the S&P/ASX 200 index ended the week on a positive note. The benchmark index rose 0.65% to 6,733.5 points.

Will the local share market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to edge lower.  

It looks set to be a subdued start to the week for the S&P/ASX 200 index. According to the latest SPI futures, the ASX 200 is poised to fall 4 points at the open. This follows a disappointing end to the week on Wall Street which saw the Dow Jones fall 0.8%, the S&P 500 drop 0.7%, and the Nasdaq index down 0.8%.

Oil prices jump.

Rising tensions between the United States and Iran have given oil prices a major lift. This could mean energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) start the week on a high. According to Bloomberg, the WTI crude oil price rose 3.1% to US$63.05 a barrel and the Brent crude oil price stormed 3.6% higher to US$68.60 a barrel.

Gold price higher.

Those same tensions look set to give gold miners such as Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) a boost as well on Monday. According to CNBC, increasing demand for safe haven assets sent the spot gold price storming a further 1.6% higher to US$1,552.40 an ounce.

Tech shares on watch.

Australian tech shares such as Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX) could come under pressure on Monday after their U.S. counterparts tumbled lower on Friday. Our locally listed tech shares tend to follow the lead of the technology-focused Nasdaq index, which fell by a disappointing 0.8% on Friday night.

BHP and Rio Tinto lower.

A pullback in the prices of a number of base metals weighed on the U.S. listed shares of BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) on Friday night. Copper was amongst the worst performing commodities, falling 1.3% on Friday. This could weigh on the OZ Minerals Limited (ASX: OZL) share price on Monday.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Altium and Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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