Gold and silver are mixed heading into the European open

London (Nov 22)  Heading into the European open Gold (-0.16%) and Silver (0.54%) are trading mixed. The yellow metal is trading at $1841/oz while silver is at $24.74/oz. In the rest of the commodities complex, copper has fallen -0.63% and spot WTI is 0.36% higher. 

Risk sentiment was mixed overnight. The Nikkei 225 (0.09%) and Shanghai Composite (0.61%) closed higher while the ASX fell -0.59%. Index futures in Europe are pointing towards a positive open.

In FX markets, the biggest mover overnight was NZD/USD and USD/JPY which both rose 0.20%. The dollar index is 0.12% higher leading into the EU open. In the crypto space, BTC/USD has called around 2% to hit $57,502.

The German coalition agreement could be attained by Monday or Tuesday according to sources. 

Japanese Prime Minister Kishida confirms his government is considering an oil reserve release.

China President Xi says China and ASEAN have got rid of shadow of cold war.

Australia to open up to (fully vaccinated visitors from) Japan and South Korea.

Bank of England Governor Andrew Bailey says there is a “two-sided” debate over inflation. He said that there is a chance inflation does not prove to be a persistent as feared. 

PBoC adviser says China’s economy could enter a period of “quasi-stagflation”.

FYI: On Friday last week Fed's Claridia suggested discussing the speed of tapering and Fed's Waller said his preference is to accelerate the taper. 

Looking ahead to the rest of the session highlights include EZ consumer confidence, U.S. existing home sales and comments from ECB's de Guindos and Holzmann.

By 0815am EST spot gold had fallen $4 to $$1841.

KitcoNews