LONDON (Apr 4) Gold and silver trade higher heading into the European open

 Gold (0.22%) and silver (0.87%) have moved marginally higher leading into the European open. Elsewhere in the commodities complex, copper is flat while spot WTI has risen 0.80% after a touch close last week.

There were some reports that talks between Russia and Ukraine progressed this weekend and sentiment has picked up overnight. The Nikkei 225 (0.25%) and ASX (0.27%) pushed higher. Futures in Europe are indicating a positive cash open. 

FX markets were quiet overnight but AUD and NZD gained against the greenback. In the crypto space, BTC/USD trades half a percent lower at $46,192.

News from overnight:

Chinese markets were closed. 

Russia's chief negotiator said the nation's position on Crimea and Donbas has not changed and talks will resume on Monday.

ECB's Schnabel affirmed the Bank would hike rates but was cagey on timing.

China has found a new variant of COVID-19.

Fed's Daly says the case for a 50bp Federal Reserve rate hike has 'grown'.

Fed's Williams says balance sheet runoff could start next month

US Sec State Blinken: Ruble rebound fuelled by “a lot of manipulation”, not sustainable.

China moved to improve cooperation with the US on company listing issues.

2000 members of China's People's Liberation Army were sent to Shanghai to assist with COVID-19.

Evergrande will escape having to demolish 39 buildings. They'll be confiscated instead.

Exxon provides natural gas to power crypto mining and looks at expanding the program globally.

Germany's February trade balance €11.5 billion vs €9.6 billion expected.

Australia ANZ job ads in March March +0.4% m/m (prior 10.9% in February).

Looking ahead to the rest of the session highlights include EU sentix, U.S. factory orders, and comments from BoE's Cunliffe and Mann.

KITCO