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Gold starts the session flat heading into the European open

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(Kitco News) - Gold is trading 0.08% higher leading into the European open at $1784/oz. On the contrary, silver has fallen 0.44% and starts the session at $22.44/oz. In the rest of the commodities complex, copper is trading just under flat, while spot WTI is up around 2%. 

On the risk side, the Nikkei 225 (-0.36%) and Shanghai Composite (-0.50%) fell overnight, while the ASX (0.05%) managed to keep its head above water. Futures in Europe are initiating a positive cash open is on the cards. 

In FX markets, the dollar index is up 0.19% and AUD is the only major currency to gain against the greenback. In the crypto space, BTC/USD had a dismal weekend falling through $50K to trade at $48,117.

Major headlines: 

Talk of an RRR cut from China. China Securities Daily says cut could come as soon as this month.

U.K. ministers announce new COVID-19 restrictions for travellers entering the U.K..

Biden and Putin are to have a phone call this Tuesday (one for the diary). 

Japan PM Kishida says to shorten waiting period between vaccine and booster shot.

Swiss National Bank (SNB) vice chairman Zurbrügg to step down at the end of July 2022.

US to fast-track revamped vaccine in battle against omicron.

Germany October factory orders -6.9% vs -0.5% m/m expected.

Looking ahead to the rest of the session highlights include EZ sentix data, Riksbanks minutes, comments from BoE's Broadbent, Riksbank's Skinglsey and the Eurogroup meeting. 

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.