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Gold and silver are mixed leading into the European open

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(Kitco News) - Gold and silver are trading mixed this morning leading into the European open. The yellow metal is 0.16% higher at $1759/oz while silver is down -0.45% at $22.47/oz. Elsewhere in commodities markets, copper is 0.21% higher and spot WTI has moved another 0.74% into the black. 

Risk sentiment overnight was much improved as Chinese markets opened up again. The Nikkei (1.34%), ASX (0.87%), and Shanghai Composite (0.47%) all moved higher overnight. Futures in Europe are pointing towards a mixed open.

The dollar index moved higher overnight and the biggest mover was USD/JPY which pushed 0.26% higher. In the crypto market, BTC/USD also rose 0.66% to trade at $54,186.

U.S. National Security Advisor Sullivan said talks with China's Jiechi were productive and noted that there were tough and direct exchanges on the Taiwan strait issue. 

Germany's August trade balance printed at €13.0 billion vs €17.9 billion prior.

Japan PM Kishida says the nation is to provide cash payouts to those hit hard by COVID-19 impact.

PBOC Vice Governor says will improve market-based interest rate formation.

Trading in China property development firm Fantasia bonds was suspended overnight. The $260 mln payment due from Evergrande-related firm is still not paid.

U.S. House is set to vote on the debt bill on October 12. U.S. Senate votes 50-48, to pass a short-term debt limit bill.

A U.S nuclear submarine has been damaged in international waters near the South China Sea according to reports.

China Caixin/Markit Services PMI for September 53.4 (vs. expected 50.7, prior 46.7).

Japan Household spending for August -3% y/y (expected -1.5% y/y).

Looking ahead to the rest of the session highlights include U.S. and Canadian jobs data and comments from ECB's Panetta and Tenreyro. 


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