Gold and silver trade up ahead of European opening
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(Kitco News) – Gold and silver rose ahead of the European opening this morning. Gold is now trading at $ 1,765 after falling 2.62% on Thursday, this morning’s move looking like a retracement for now. Silver appears to be testing the previous wave’s low support on the daily chart. Across the rest of the commodities complex, copper was up 0.27% and spot WTI was down 0.48%.
Looking at the risk sentiment in the Asia-Pac zone, the ASX (-0.76%) fell while the Shanghai Composite (0.17%) and the Nikkei 225 (0.58%) traded well . Futures contracts in Europe point to a positive opening.
In the currency markets, after a good performance on Thursday, the dollar index was down 0.03%. The biggest overnight driver is the AUD / USD which rose 0.23%. In the crypto space, BTC / USD is 0.40% in black trading at $ 47,925.
Highlights of the night:
Global Times editor Hu Xijin warned Evergrande that a bailout would not be taken for granted. It has also been said that the potential downfall of Evergrande is unlikely to trigger a systemic risk similar to that of Lehman Brothers.
UK retail sales in August -0.9% vs. + 0.5% m / m expected.
Biden, Pelosi and Schumer all agree that Trump’s tax cuts must be repealed.
US President Biden seeks to bring the United States back into the Pacific Trade Pact.
China claims to have fully vaccinated more than a billion people against Covid-19, or more than 70% of its total population.
New Zealand manufacturing PMI for August 40.1 (up 62%).
The United States and Australia issue a joint statement that they will strengthen their ties with Taiwan.
The ECB said reports of a rate hike in the UK financial media were not correct.
Looking ahead to the remainder of the session, highlights include Quadruple Witchcraft, University of Michigan data, and the ECB’s survey of monetary analysts.
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