Make Kitco Your Homepage

Gold and silver trading are mixed ahead of the European open

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Gold and silver are trading mixed heading into the European cash open. Gold is -0.13% lower while silver has pushed 0.39% into the black. Looking at the rest of the commodities complex, copper is down -0.33% while spot WTI is -0.34% in the red ahead of OPEC discussions.

Risk sentiment was also mixed overnight as the Nikkei 225 fell -1.13% while the ASX pushed 1.29% higher. China is still closed due to a public holiday. Futures in Europe are indicating that the open may be slightly soft.

In FX markets, AUD/USD was the biggest mover overnight rising 0.21%. The greenback lost some strength in general across the board. Lastly, after a decent upside breakout at the end of last week Bitcoin is -1.07% lower trading at $47,700.

The U.S. House progressives are reportedly willing to compromise on the $3.5 trl with limits but rejected Manchin's $1.5 trl offer. 

NZ PM Ardern announces minor easing of restrictions for Auckland.

U.S. NIH Dr. Fauci has stated that the U.S. is turning a corner on the most recent surge of the virus.

Fumio Kishida has now been formally announced as Japan's new prime minister.

Hong Kong developer Hopson plans to acquire about 51% of Evergrande's management unit.

According to U.K. press reports, Brexit minister David Frost may threaten the EU on Monday over Northern Ireland.

China flew nearly 100 military planes into Taiwan airspace over the long weekend.

Former ECB President Trichet is skeptical that US inflation is transitory.

Iraq's oil minister said $100/bbl oil price will not be sustainable, OPEC wants stable markets.

According to press reports, the U.S. will announce that China hasn't lived up to the Phase 1 trade deal on Monday.

Looking ahead to the rest of the session highlights include EZ Sentix data, U.S. factory orders, comments from ECB's de Guindos, de Cos, Fed's Bostic, Bullard, and the Eurogroup meetings.


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.