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(Kitco News) – Gold and silver go positively into the European Open at the end of the week. The yellow metal is trading 0.50% higher and is back just above the psychological level of $ 1800 / oz. Silver is 0.70% higher and trades at $ 24.20 / ounce. In the rest of the commodity complex, copper is up 1.20% and Spot-WTI is down 1%.
Looking at risk sentiment in the Asia-Pacific region, the Nikkei 225 (1.16%), ASX (0.50%) and Shanghai Composite (0.49%) rose overnight. The futures markets in Europe are all pointing to a positive opening.
In the forex markets, the dollar index fell slightly, but the strongest uptrend overnight was NZD / USD (0.24%). The commodity currencies all performed well overnight. BTC / USD is down slightly after its recent decline and is trading at $ 46,670 / oz.
Looking at the major overnight news, Chinese state media say Presidents Xi and Biden had a broad, frank conversation. It has been reported that Biden and Xi have the ability to be open and honest with one another without lecturing.
Chinese state television says President Xi wants better trade relations with ASEAN countries.
UK monthly GDP expected to be + 0.1% vs. + 0.6% m / m in July.
Germany Final CPI for August + 3.9% vs. + 3.9% y / y provisional.
ECB’s Holzmann said PEPP should end next year if economic conditions remain favorable.
Fed’s Kaplan says he will sell every single stock he owns and invest in tracking funds and cash. Fed’s Rosengren also says he will sell his individual stocks by September 30th.
Looking at the rest of the meeting highlights are the UK GDP, the Russian interest rate decision, the meetings of the Eurogroup, the US PPI, the Canadian employment change and we were also able to speak from Lagarde of the ECB, Elderson of the ECB, the German Buba Vice-President Buch, Mester and hear from Daly at the Fed.
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