Silver is trading higher ahead of the European open
LONDON (Apr 8) Gold is trading flat ahead of the European open at $1929/oz. Silver is marginally higher trading at $24.60/oz. Elsewhere in the commodities complex, copper is 0.44% higher and spot WTI fell 0.22%.
Risk sentiment overnight was pretty positive. The Nikkei 225 (0.36%), ASX (0.47%) and Shanghai Composite (0.32%) all closed higher. Futures in Europe are indicating a positive cash open.
In FX markets, EUR/USD is extending to the downside and trades at 1.0860. The biggest mover is GBP/USD which is down 0.24%. In the crypto space, BTC/USD is 0.21% higher at $43,537.
News from overnight:
Fed’s Bullard says the Fed is ‘Behind the curve and sees rates now at 3.5% by year's end.
EU oil embargo on Russia expected ‘Sooner Rather Than Later’.
U.S. official says the discussion was had on the possibility of Finland and Sweden joining NATO.
New York will suspend its gasoline tax all for all of the second half of 2022.
China's state media threatens the U.S. over visits to Taiwan.
Germany will need to use the full transition period to implement a ban on Russian coal.
China's vice premier Hu Chunhua has called for full efforts to stabilize employment.
Japan's March consumer confidence index 32.8 vs 35.3 prior.
Highlights from the rest of the session include the Canadian jobs report and comments from ECB's Panetta.
KITCO
