(Kitco News) – Gold is once again heading into the European session on the front foot but is below $1800/oz. Silver is 0.62% in the black trading at $22.92/oz. In the rest of the commodities complex, copper is 0.33% higher and spot WTI has also risen 1.58%.
Risk sentiment was mixed overnight. The Nikkei 225 (0.41%) and Shanghai Composite (0.36%) pushed higher while the ASX dropped -0.28%. Futures in Europe are pointing towards a positive open.
In FX markets, the biggest mover was NZD/USD which rose 0.39% closely followed by AUD/USD (0.38%). In the crypto space, BTC/USD is 0.18% higher.
News stories ahead of the EU open:
A German state has reported that 4 fully vaccinated people have been infected with the omicron variant.
Japan reportedly looking to halt all incoming international flights for one month.
The U.S. administration is planning to tighten rules for inbound travellers due to Omicron concerns.
BOJ’s Adachi: Will ease policy further only if virus infections spike, prompting yen rise and equities fall.
A leading Hong Kong scientist says existing jabs will not be as effective against the omicron variant.
China Vice Premier Liu He says must maintain stability, continuity in economic policy.
Germany took a step closer toward making Covid-19 vaccinations compulsory.
U.K. November Nationwide house prices +0.9% vs +0.5% m/m expected.
German October retail sales -0.3% vs +1.0% m/m expected.
Australian GDP for Q3 -1.9% q/q (expected -2.7%).
Australian Markit Manufacturing PMI for November (final) 59.2 (vs. prior 58.2).
Australian AiG Manufacturing PMI for November 54.8 (prior 50.4).
New Zealand Building Permits for October -2.0% m/m (prior -1.9%).
Chinese Caixin Markit Manufacturing PMI for November 49.9 (expected 50.5).
Looking ahead to the rest of the session highlights include manufacturing PMI’s from the major nations, U.S. ADP, ISM manufacturing, OPEC meetings, comments from BoE’s Bailey, and Fed’s Powell.
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.
source https://d0llars.com/gold-and-silver-trade-higher-heading-into-the-european-open/
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