Gold and silver trade higher ahead of the European open


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 (0.19%) 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.

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.