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Gold and silver are moving down ahead of the European opening

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(Kitco News) – Both gold and silver fell in the Aisa Pac session. Gold is trading -0.24% in the red, while silver is down a little more than half a percent. Looking at the rest of the commodity complex, copper is down -0.68%, but spot WTI bucked the trend and traded 0.09% higher.

It was an overnight mixed session on the indices as the ASX (-0.54%) and Shanghai Composite (-0.64%) both fell but the Nikkei 225 traded 0.06% higher. The futures markets are pointing to a negative cash open.

In the currency markets, the US dollar index rose 0.11% overnight. Commodity currencies all suffered as USD / CAD rose (0.27%) and AUD / USD (-0.26%) and NZD / USD (-0.21%) fell. In the crypto space, it pulled out of the $ 50,000 zone and is now trading at $ 47,054.

Looking at the overnight news, the PBOC will use several tools to ensure reasonably adequate market liquidity.

Australian Private Capital Expenditure (Capex) for Q2 2021 + 4.4% q / q (compared to expected 2.5% q / q, previously 6.3%).

German GfK consumer confidence Sep: -1.2 (est -0.5; prevR -0.4; prev -0.3).

The Bank of Korea raised its key rate for the first time in 3 years. The central bank raised its key interest rate to 0.75%.

British production is at its lowest level since the 1950s.

Japan’s ruling LDP party has agreed to hold a leadership election on September 29th.

Chile’s workers at the Salvador copper mine have deemed a Codelco wage offer unacceptable.

Other highlights of the session include the Jackson Hole Symposium, ECB minutes, US initial jobless claims, and comments from Feds Kaplan, Bullard, and ECB-Schnabel.

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 the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. It is not an invitation to exchange goods, securities or other financial instruments. Kitco Metals Inc. and the author of this article assume no responsibility for any loss and / or damage that might arise from the use of this publication.

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