Gold and silver are trading flat ahead of European opening
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(Kitco News) – Gold and silver are trading slightly lower ahead of the European opening. Gold is trading at $ 1,748 / oz while silver is $ 22.57 respectively. In the rest of the commodity complex, copper is 0.35% higher while spot WTI is 1.19% in the dark.
The sense of risk overnight was once again mixed. The Nikkei 225 (-0.18%) and ASX (-1.37%) closed lower while the Shanghai Composite rose 0.75%. Futures contracts in Europe point to a slightly positive opening.
On the foreign exchange markets, commodity currencies performed well. The AUD / USD was the main driver of the 0.31% rise. Elsewhere, Bitcoin is trading at $ 42,485.
Federal Reserve Members Kaplan and Rosengren have announced their resignation following the Fed trade scandal. Fed’s Rosengren to retire on September 30 after trade scandal
Near the Dallas Fed. Kaplan will retire on October 8.
Chinese authorities will send inspectors to China’s top 25 financial institutions in the coming weeks.
North Korea launched another missile, an “unidentified projectile” into the East Sea.
BP says oil demand and supply will both increase next year, with supply growth expected to exceed.
Japanese Economy Minister Nishimura has said he wants to lift the state of emergency on October 1.
Japanese Finance Minister Aso has said he doubts demand will increase once the state of emergency is lifted.
The Chinese provincial governor has said he should import more coal to alleviate power shortages.
China industrial profits for August + 10.1% y / y (before + 16.4% y / y).
Retail sales in Australia for August -1.7% m / m (expected -2.5%).
The World Bank remains optimistic about China’s economic growth, with an annual growth forecast of 8.5%.
Bank of England Governor Bailey again signaled a rate hike ahead of QE’s end.
Chinese media say they expect a crackdown on high coal prices – citing power shortages, cuts in factory output.
Goldman Sachs lowered its GDP forecast for China 2021 to 7.8% (from 8.2% previously).
The Fed’s Bostic says the United States is not facing a long period of troublesome inflation.
Fed’s Powell said the bank would act against sustained higher inflation.
Looking ahead to the rest of the session’s highlights include German GFK, U.S. Consumer Confidence, and OPEC’s Global Outlook. There is also a very busy speaker program with commentary from Lagarde from the ECB, Guindos, Panetta, Schnabel, Powell from Fed, Evans, Bostic, Bowman and Mann from the BoE.
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