Gold and silver trade marginally lower heading into the European open

London (Jan 10)  Gold and silver start the week marginally lower. The yellow metal is trading at $1793/oz while silver is around £22.27/oz. Elsewhere in the commodities complex, copper is flat and spot WTI has risen 0.35%. 

Indices in the Asia Pac area were mixed overnight. Japanese markets were closed due to a public holiday and the ASX closed just under flat but the Shanghai Composite moved 0.39% higher. Index futures in Europe are pointing towards a positive cash open. 

In the FX markets, EUR/USD was the biggest mover as the pair fell -0.24% closely followed by AUD/USD (0.23%). In the crypto space, BTC/USD rose 0.44% to trade above $42K again. 

Weekend news:

ECB's Schnabel says the Bank may need to act on policy due to rising energy prices.

Tianjian suspends all travel businesses by local agents effective immediately.

According to reports in China Economic Net, the nation may conduct easing measures in the first quarter as the economy needs more support. 

UK manufacturers believe conditions, productivity to improve in 2022.

Deloitte survey shows major British companies plan a surge in investment in 2022.

China reports 157 new mainland coronavirus cases (prior day 165).

Australian building permits for November 2021: +3.6% m/m (vs. expected 3%).

Looking ahead to the rest of the session highlights include comments from Fed's Bostic and EZ unemployment data. 

KitcoNews