Gold pushes higher again leading into the European open

London (Feb 15) Gold (0.25%) climbs again overnight as geopolitical concerns boost demand for the yellow metal. Silver is down almost half a percent in early trade. In the rest of the commodities complex, copper has risen 0.12% and spot WTI has dropped 0.26%. 

Indices were mixed overnight as the Nikkei 225 (-0.79%) and ASX (-0.52%) both fell but the Shanghai Composite rose half a percent. Futures markets in Europe are pointing towards a negative cash open. 

In FX markets the biggest mover overnight was NZD/USD which rose 0.20%. Lastly, in the crypto space, BTC/USD rose 2.76%. 

Headlines from overnight: 

Ukraine-Russia border satellite images show the new arrival of troops, helicopters and more.

Russia says will 'respond' if its citizens are to be killed anywhere, including in Donbas.

U.S. State Dept says US citizens should depart Belarus immediately.

China state-sponsored financial media says the PBOC may cut rates.

China regulators and authorities meeting on iron ore prices.

Japan's economic minister says must implement measures to counter rising energy prices.

BoJ Gov Kuroda says conditions warrant keeping monetary policy loose.

Japan GDP preliminary for Q4 2021 +1.3% q/q (vs. expected 1.4%).

U.K. January jobless claims change -31.9k vs -43.3k prior.

Japan Final December Industrial output confirmed at -1% m/m.

Looking ahead to the rest of the session highlights include EZ GDP, German ZEW, NY Fed manufacturing, U.S. PPI final demand, talks between Germany and Russia and Glencore earnings.

HOWEVER, BY 08:00am EST, GOLD HAD FALLEN $28 TO $1850.

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