Gold and silver are mixed on the way to the European Open

0

Editor’s Note: With so much market volatility, stay tuned with the daily news! Find out in minutes our quick round-up of today’s most important news and expert opinions. Sign up here!

(Kitco News) – Gold and silver are mixed up for the European Open right now. Gold is currently trading 0.26% higher while silver has lost -0.56% of its value. In the rest of the raw material complex, copper is -0.26% lower and the spot WTI is -0.54% lower.

The exchanges in the Asia-Pacific region all traded in negative territory overnight. The Nikkei 225 (-2.17%), the ASX (-1.08%) and the Shanghai Composite (-1.58%) slipped into the red. However, the futures in Europe are pointing to a positive opening.

There was very little movement in the currency markets overnight. The strongest move was AUD / USD with a plus of 0.26%. In the crypto space, BTC / USD rose 2.87% as it looks like USD 40,000 is being defended on the daily chart.

If you watch the big overnight news, Fumio Kishida wins the runoff for the LDP leadership to become the next Japanese Prime Minister.

Germany import price index August + 1.4% vs. + 1.2% m / m expected.

China is reportedly considering increasing the price of electricity for industrial users to alleviate the current crisis.

Japan’s huge state pension fund will not invest in China’s yuan government bonds.

New Zealand Prime Minister Ardern will decide on the restrictions on Auckland on Monday.

The Fed’s Bullard is forecasting US GDP growth of 5.8% this year. He added that the US is nowhere near facing 1970s-style stagflation.

EU officials said the US has contacted China to reduce imports of Iranian oil.

UK BRC Shop Price Index -0.5% YoY for August (previously -0.8%).

In the US, the Senate GOP blocked the unanimous efforts of Majority Leader Schumer to suspend the debt ceiling.

Looking at the rest of the session highlights, there are EU consumer confidence, the Canadian commodity price index, upcoming US home sales, DoEs, and comments from German Bubas Mauderer, ECBs Lagarde, Lane, Elderson, de Guindos, Feds Bostic, Williams, Powell, and Harker .

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 the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. It is not an invitation to exchange goods, securities or other financial instruments. Kitco Metals Inc. and the author of this article assume no responsibility for any loss and / or damage that might arise from the use of this publication.


Source link

Leave A Reply

Your email address will not be published.