(Kitco News) – Gold (-0.18%) and silver (0.77%) are mixed this morning ahead of the European cash market open. In the rest of the commodities complex, copper (-0.27%) and spot WTI (-0.52%) both trade in negative territory.
In the Asia Pac area, Chinese bourses were closed but the ASX (1.02%) and Nikkei 225 (1.12%) closed higher. Futures in Europe are indicating a positive cash open.
In FX markets, the biggest mover is USD/JPY which has risen 0.60%. EUR/USD has pushed 0.50% higher too with some mixed USD price action. In the crypto space, BTC/USD trades at $21,711.
News from the weekend and overnight:
Beijing found 14 new COVID-19 confirmed cases among quarantined individuals on Sunday.
ECB policymakers see a growing probability of rates moving to “restrictive territory”.
ECB’s Elderson says further rate hikes are ahead despite risks to the economy.
ECB’s Nagel signals further rate hikes as inflation will hit a far-too-high level.
Chinese markets were closed on Monday due to a public holiday.
Biden plans to broaden curbs on US shipments to China of semiconductors.
Sweden’s election could go either way, PM Andersson says will not have a result tonight.
White House officials have grown increasingly alarmed over Russia / Europe’s energy crisis.
Yellen said gasoline prices could spike when the EU significantly cuts buying Russian oil.
Russian forces have pulled back from key areas in Ukraine after a Ukrainian counter-offensive.
U.K. July monthly GDP +0.2% vs +0.4% m/m expected.
Looking ahead to the rest of the session highlights include ECB survey of analysts, comments form CEB’s Schnabel and de Guindos.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
Read More:Gold and silver are mixed ahead of the European open
2022-09-12 06:21:00