(Kitco News) - Gold is trading 0.50% higher at the start of the week at $1862/oz. Silver Is also up around the same amount and trades at $22.22/oz. Elsewhere in the commodities complex, both copper (0.50%) and spot WTI (0.75%) trade in the black.
Indices traded well overnight as the Nikkei 225 (2.19%), Shanghai Composite (0.55%), and ASX (1.45%) all pushed higher. Futures in Europe are pointing towards a positive cash open.
In FX markets, EUR/USD rose 0.27% but the biggest mover was AUD/USD which rose 0.35%. In the crypto space, BTC/USD now trades at $30,405 (4.26%).
Stories from the weekend and overnight:
Putin admits he is open to resuming dialogue with Ukraine. Emmanuel Macron and Olaf Scholz were said to have spoken to Russia's Putin on the weekend.
ECB's Lane: ECB should hike rates by 25 bps increments.
Germany April import price index +1.8% vs +2.0% m/m expected.
China lockdown restrictions slowly being eased back in Beijing, Shanghai.
Moody's lowers China 2022 GDP growth forecast from 5.2% to 4.5%.
RBNZ's Conway sees lower domestic inflation in H2 of 2022.
RBNZ head economist says committee did not seriously consider a 75bp interest rate rise.
The EU failed to reach and agreement on the Russian oil embargo. Talks resume later today.
German CPI - North Rhine Westphalia May CPI +8.1% vs +7.7% y/y prior.
Looking ahead to the rest of the session highlights include German CPI data, Swiss KoF, EZ consumer confidence, EU council meetings and the U.S. is off due to a public holiday.
