(Kitco News) – Gold and silver are trading mixed this morning leading into the European cash open. Gold has moved just under flat to trade at $1761/oz while silver is 0.21% higher at $22/64/oz. In the rest of the commodities complex, copper has moved 0.22% higher and spot WTI is flat.
Risk sentiment was good overnight as the Nikkei 225 (0.54%) and ASX (0.70%) both pushed higher. Chinese bourses are set to open up again tomorrow after the Golden Week holiday. Futures in Europe are pointing towards a positive cash open.
In FX markets, commodities currencies outperformed with AUD/USD (0.31%) the biggest mover in the Asian session. In the crypto space, BTC/USD is having a small retracement after rising 7.47% on Wednesday to trade at $54,592.
The Democrats signaled they would take up Senate Republican leader Mitch McConnell’s offer to raise the U.S. debt ceiling into December.
China media highlight “signs of better communication between the world’s two biggest economies”.
Bank of Japan Governor Kuroda says expects core CPI to pick up gradually.
U.S. Dept. of Justice announces the launch of the National Crypto Enforcement Team.
U.S. Senator McConnell says a short-term debt ceiling vote is possible on Thursday.
Ex-Fed New York President Dudley says the Fed is fighting the last war on inflation.
White House Press Secretary says the Biden administration will take more steps on oil prices if necessary. The U.S. has been mulling over the use of their strategic petroleum reserve facility to ease price pressures.
The European Central Bank is looking into a new bond-buying program to prevent any market turmoil when emergency purchases get phased out next year, Bloomberg reports.
U.K. September Halifax house prices +1.7% vs +0.8% m/m expected.
German August industrial production -4.0% vs -0.4% m/m expected.
Japan August preliminary leading indicator index 101.8 vs 104.3 expected.
Looking ahead to the rest of the session highlights include U.S. initial jobless claims, ECB minutes, and comments from ECB’s Lane, Schnabel, Elderson and Fed’s Mester.
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