Gold and silver trade higher ahead of the Europen open
(Kitco News) - Gold and silver have moved higher into the last trading day of the week. Gold is back in familiar territory just below $1800/oz and silver is trading at $23.89/oz. In the rest of the commodities complex, copper traded 0.09% higher while spot WTI fell -0.31%. The markets may be tentative ahead of today's NFP release.
Indices in the Asia Pac area were mixed. The Nikkei 225 (-0.61%) and Shanghai Composite (-1.00%) both fell while the ASX rose 0.39%. Futures in Europe are indicating a slightly softer cash open.
In FX markets, NZD/USD was the biggest mover falling -0.22% but the dollar index remained steady (-0.05%). In the crypto space, BTC/USD rose 1.44% to reach $62,331.
News stories from overnight:
ECB's Stournaras says Inflation pressures are temporary. ECB's Schnabel says there are good reasons to think inflation will decline next year.
Japanese PM Kishida tells the finance ministry to look into tax breaks for wage rises.
Biden, Xi may be close to reopening shuttered consulates - a sign of improving relations.
RBA Statement repeats will need to see wages growth materially higher for a rate hike.
Japanese household spending for September +5.0% m/m (expected 2.8%).
Australian services PMI for October: 47.6 (previous was 45.7).
German September industrial production -1.1% vs +1.0% m/m expected.
U.K. October Halifax house prices +0.9% vs +0.4% m/m expected.
Looking ahead to the rest of the session highlights include EZ retail sales, U.S. and Canadian jobs reports, and comments from ECB's de Guindos and Panetta.
By Rajan Dhall
For Kitco News
Follow rajfx10
rdhall@kitco.comwww.kitco.com