news

Gold and silver are trading higher ahead of the European open

Kitco Media
By Rajan Dhall
Published
Updated
Kitco News
The Leading News Source in Precious Metals

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Gold (0.14%) and silver (0.03%) are both trading slightly higher ahead of the European open. In the rest of the commodities space, copper is down 1.40% but spot WTI is 0.39% in the black. 

Risk sentiment was mixed overnight. The Nikkei 225 (0.10%) and ASX (0.45%) pushed higher while the Shanghai Composite (-0.15%) fell. Futures in Europe are indicating a negative cash open.

In FX markets, USD/CAD (0.23%) and USD/JPY (0.23%) were the biggest movers overnight. In the crypto space, BTC/USD pushed higher to hit $21,177.

News from overnight:

China's 220bn infrastructure push which is currently in consideration is not an aggressive stimulus.

Ex-Japanese PM Abe was shot and is showing no vital signs. 

Japan Upper House election this weekend and the polls favoring PM Kishida's party.

China's "high-frequency indicators suggest economy contracted" in Q2.

Biden meeting with senior advisers on Friday to discuss a path forward on China tariffs.

Japan data - Household spending for May -0.5% y/y (vs expected 2.1%).

Looking ahead to the rest of the session highlights include U.S. and Canadian jobs reports and comments from ECB's Lagarde and Fed's Williams. 

 

Kitco Media

Rajan Dhall

Rajan Dhall is a financial analyst that has been in the trading industry since 2009. From working in Canary Wharf (London) as a head trader to becoming a journalist on a real-time news desk, Rajan has worked his way through many positions in the financial sector. The main area of Raj's expertise lies in technical and statistical analysis. Rajan currently lectures technical analysis with the Society of Technical Analysts (STA) at the London School of Economics. One of the main areas Rajan has based his analysis on is probability. Raj completed his certification (probability) with Harvard and regularly uses probability theories in his analysis as he feels it helps him add value to his clients and customers.

Mdi Earth Logo

Tags:

News Bites

Share

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.