Gold and silver trade higher leading into the European open
London (Dec 13) Both gold (0.17%) and Silver (0.25%) are trading higher leading into the European open at the start of the week. Gold is trading at $1785/oz while silver sits at $22.21/oz. In the rest of the commodities complex, copper is 0.63% in the black while spot WTI is 0.71% higher.
Risk sentiment was pretty good overnight as the Nikkei (0.71%), ASX (0.35%), and Shanghai Composite (0.40%) all closed higher. Futures in Europe are also pointing towards a positive open.
In FX markets, the dollar index trades 0.24% higher and the biggest mover was GBP/USD (-0.38%). In the crypto space, BTC/USD fell -2.84% to trade at $48,638.
News stories from the weekend and overnight:
NZ PM Ardern announces a further reduction in Auckland coronavirus restrictions.
U.S. President Biden has declared a major disaster in the state of Kentucky as tornados hit the area.
U.K.'s Health Secretary Javid says Omicron variant spreading at a phenomenal rate.
12+ Chinese listed companies have suspended production in response to COVID restrictions.
Australian government to underwrite AUD7bn in loans for businesses hit by Delta lockdowns.
Germany November wholesale price index +1.3% vs +1.6% m/m prior.
South Korean exports data for December, +20% y/y in the first 10 days.
BOJ Tankan report for Q4: Large manufacturing index +18 (expected 19, prior 18).
Japan Machinery Orders for October +3.8% m/m (expected 2.1%) and +2.9% y/y (expected 4.0%).
New Zealand's services sector PMI November, to 46.5 from 44.9 in October.
Looking ahead to the rest of the session highlights include the OPEC oil market report and the BoE financial stability report.
KitcoNews
