Gold and silver trade higher ahead of the European open – Kitco NEWS

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(Kitco News) – Gold (0.19%) and silver (0.11%) are trading higher ahead of the European open. In the rest of the commodities complex, copper is 0.31% lower and spot WTI is 0.15% in the red. 

Indices traded lower overnight as the Nikkei 225 (-0.74%) and ASX (0.64%) both fell but the Shanghai Composite closed flat. Futures in Europe are flat ahead of the cash open.

In FX markets, the biggest mover was AUD/USD which rose 0.63%. In the crypto space, BTC/USD fell below $20k. 

News from the weekend:

Fed’s Waller backs another 75 bps in an ‘all-in’ fight to lower inflation.

Japanese government keeps the overall economic assessment unchanged in June.

PBOC leaves the one-year loan prime rate unchanged at 3.70%, as expected.

Macau reports 34 positive covid cases.

French President Macron failed to win a majority in parliament.

New Zealand May Business NZ PSI 55.2 vs 49.2 prior

Germany May PPI +1.6% vs +1.5% m/m expected.

UK June Rightmove house price index +9.7% y/y vs +10.2% prior.

Looking ahead to the rest of the session the U.S. are closed for a public holiday and there is not too much on the data slate. There could be comments from ECB’s Lagarde, Panetta, Lane Kazaks, Fed’s Bullard, and BoE’s Mann.

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