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Gold and silver trade marginally lower ahead of the European open

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(Kitco News) - Gold (-0.20%) and silver (-0.11%) are both trading lower ahead of the European open. In the rest of the commodities markets, copper is just under flat while spot WTI has fallen 0.64%.

Risk sentiment was mixed overnight as the Shanghai Composite (0.31%) and ASX (0.13%) moved higher but the Nikkei 225 closed -0.88% lower. Futures in Europe are projecting a negative cash open. 

FX markets were very quiet overnight the biggest mover was AUD/USD which fell 0.20%. In the crypto space, BTC/USD trades at $23,790.

News from overnight: 

BoE's Ramsden does not rule out rate cuts in the next year.

China's military says it will continue drills around Taiwan today.

Taiwan began a live-fire artillery drill simulating defense against an attack by China, according to AFP.

China's state financial media says lower rates, RRR is unlikely.

The RBA has kicked off a one-year research program into digital currency.

The FBI has raided former US President Trump's home and executed a search warrant.

Chinese passenger vehicle sales were up 20.1% y/y in July.

Australian business confidence 7 (prior 1).

Australian Monthly consumer confidence -3% m/m (prior also -3%).

Looking ahead to the rest of the session data is very light but we do get the EIA STEO.

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.