(Kitco News) - Gold recovered from its lows on Monday to close at $1736.52/oz and this morning the yellow metal trades 0.18% lower. Silver is also slightly weaker trading at $18.70/oz. In the rest of the commodities complex, both copper (-0.47%) and spot WTI (-0.05%) are trading lower.
In the risk markets, the Nikkei 225 (1.14%) and ASX (0.47%) traded higher overnight but the Shanghai Composite fell 0.48%. Futures in Europe are indicating a positive cash open.
FX markets were subdued overnight, the biggest mover was NZD/USD which fell 0.11%. In the crypto space, BTC/USD is back above $20k trading at $20,386.
News from overnight:
China's Premier Li Keqiang says economic support policies now are exceeding those of 2020.
Japan's finance minister says respects BOJ's independence in guiding monetary policy.
UK industry business optimism balance drops to its lowest since May 2020.
Shell's CEO says that Europe's gas crisis could last several winters.
Fed's Kashkari said he was happy to see how Fed Chair Powell's Jackson Hole Speech was received.
German regional inflation: North Rhine Westphalia August CPI 8.1% vs 7.8% y/y prior.
Australian data - Building permits for private dwellings July +0.7% m/m.
Japanese July unemployment rate 2.6% (vs. 2.6% expected).
Looking ahead to the rest of the session highlights include more regional CPI readings from Germany, EZ consumer confidence, U.S. consumer confidence, Jolts jobs data and comments from Fed's Williams and Barkin.
