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Gold and silver are subdued leading into the European open

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(Kitco News) - Gold once again breached $1800/oz during Thursday's session to trade at $1796/oz leading into the European open. Silver is also down half a percent trading at $22.64/oz. Looking at the rest of the commodities complex, both copper (-0.08%) and spot WTI (-0.13%) are down marginally. 

Overnight the Nikkei 225 (2.09%) and ASX (2.19%) recouped some losses seen earlier in the week but the Shanghai Composite fell -0.97%. Futures in Europe are pointing towards a mixed open. 

In FX markets, the dollar index trades 0.15% overnight. The biggest mover heading into the European open is USD/JPY (0.28%). In the crypto space, BTC/USD is 1% lower trading at $36,824. 

News from overnight:

BOJ's Kuroda: It is 'very appropriate' for Fed to shift policy stance given heightening inflation expectations.

BOJ's Kuroda: Current yield curve control policy is appropriate.

German economic adviser says ECB will need to react if inflation is 'persistent'.

Reports the Biden administration preparing a strategy to regulate crypto in February.

Germany December import price index +0.1% vs +2.0% m/m expected.

France Q4 preliminary GDP +0.7% vs +0.5% q/q expected.

Australia PPI for Q4 2021: +1.3% q/q (expected 0.3% q/q).

Tokyo inflation data for January: Headline CPI 0.5% y/y (expected 0.6%).

New Zealand consumer confidence (January) 97.7 (vs. prior 98.3).

Looking ahead to the rest of the session highlights include EZ M3 money supply, EZ economic sentiment, U.S. PCE, University of Michigan data and German/Spanish GDP readings. 


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