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Gold and silver trade higher leading into the European open

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(Kitco News) - Gold (0.30%) and silver (0.50%) are trading higher this morning. The yellow metal is approaching $1800/oz again while silver trades at $23.66/oz. In the rest of the commodities complex, copper is 0.50% higher while spot WTI lost -0.10% of its value.

Overnight in the Asia Pac area risk sentiment was mixed. The Nikkei 225 (0.67%) and ASX (0.11%) closed higher while the Shanghai Composite closed -0.24% in the red. Futures in Europe are pointing towards a positive open.

In FX markets, the dollar index is 0.19% lower heading into the European open. The biggest move overnight came from EUR/USD which pushed 0.20% higher. In the crypto space, BTC/USD rose just over 1% to trade at $57,771.

Headlines from overnight:

FOMC minutes showed that some policymakers were looking for a faster pace of change for asset purchases.

China financial press says there is further fiscal support incoming.

South Korean central bank raises its base rate by 25bps to 1% (as expected).

Canada Finance Minister Freeland says will provide a fiscal update in Fall.

Australian headline capex for Q3 -2.2% q/q (vs. expected -2%).

Germany Q3 final GDP +1.7% vs +1.8% q/q prelim.

Germany December GfK consumer confidence -1.6 vs -0.5 expected.

Japan PPI Services for October 1% y/y (expected 1.2%, prior 0.9%).

NZ October exports NZD 5.35bn (prior 4.4bn) & imports NZD 6.64bn (prior 6.57bn).

Looking ahead to the rest of the session highlights include ECB minutes, Riksbank rate decision, comments from ECB's Lagarde, Elderson and Schnabel. The U.S. markets are closed for Thanksgiving. 

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.