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Gold moves higher heading into the European open

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(Kitco News) - Gold is trading 0.20% higher leading into the European session at $1838.oz. Silver on the other hand is slightly worse off having fallen -0.63%. Looking at the rest of the commodities complex, copper is -1.17% lower and spot WTI is 1.16% higher.

Risk sentiment was mixed overnight as the Nikkei 225 (0.24%) and Shangai Composite (0.04%) pushed higher but the ASX dropped -0.51%. Futures in Europe are pointing towards a positive open. 

In FX markets, the biggest mover was AUD/USD which fell -0.33% to move back in line with its underlying trend. The dollar index moved 0.13% higher. In the crypto space, BTC/USD fell nearly -3% to trade near $35K.

News stories from the weekend and overnight:

It is a big week for U.K. PM Johnson as the outcome of the investigation into the lockdown parties is said to be released.

Biden is considering sending thousands of US troops to Eastern Europe and the Baltics.

U.S. orders diplomats' family members to leave its embassy in Kiev, Ukraine.

U.S. secretary of state Blinken said if one more Russian force entered Ukraine with aggression a response would be triggered. 

Expectations of significant easing for China property sector according to BNP Paribas analysts.

39 Chinese military aircraft entered Taiwan airspace on Sunday.

UAE Defence Minister says intercepted 2 Houthi ballistic missiles.

Iran nuclear agreement is unlikely without the release of U.S. prisoners.

ECB's Rehn says he expects eurozone inflation of around 2% in the next two years.

Japan Jibun Bank / Markit preliminary PMI for January - Manufacturing 54.6 (prior 54.3).

Australia Markit preliminary PMIs for January Manufacturing 55.3 (prior 57.7).

Looking ahead to the rest of the session highlights include preliminary PMI's and the Italian election. 

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.