(Kitco News) - Gold is flat and silver is 0.19% higher at the start of the week. In the rest of the commodities complex, copper has risen by half a percent, and spot WTI has fallen 1.55%.
Looking at risk sentiment overnight, the Nikkei 225 (-0.77%), ASX (-0.02%), and Shanghai Composite (-0.59%) all dropped overnight. Futures in Europe are looking weak ahead of the cash open.
In FX markets, USD/CHF was the biggest mover overnight rising 0.40%. In the crypto space, BTC/USD fell 3.11%.
News from the weekend:
ECB Lagarde says will raise interest rates for as long as it takes.
ECB Holzmann says the Bank will take the economy into consideration when hiking rates.
ECB's Holzmann added we may have to accept a moderate recession to fight inflation.
US Treasury Secretary Yellen says economy shows no signs of recession
Bank of Japan announces new Board members.
China reports 982 new covid cases vs 817 a day ago.
China planning to set up a real estate fund (up to US$44bn) to prop up property developers.
Looking ahead to the rest of the session highlights include German ifo, U.K. CBI, U.S. national activity index, Dallas Fed data, and earnings continue.
