Gold and silver trade marginally higher ahead of the European open kitconews gold silver economics investing mining finance metals
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- Gold and silver are both trading marginally higher ahead of the European open. Elsewhere in the commodities complex, copper has moved higher but spot WTI has pushed just under flat. Risk sentiment in the Asia Pac area was generally positive overnight. The Nikkei 225 and ASX closed higher but the Shanghai Composite fell slightly. Futures in Europe are indicating a positive cash open.
FX markets were subdued but the biggest mover was GBP/USD which rose 0.15%. In the crypto space, BTC/USD is trading at $21,204.Reports have been coming in that Wuhan has locked down 1 million residents. U.S. Treasury Secretary Yellen spoke with U.K. fin min Zahawi and the cap on Russia's oil price was discussed.The White House says no plans for strategic petroleum reserve releases beyond 6-month period.China Industrial Profit data for June +3.9% y/y.Looking ahead to the rest of the session the main highlight is the Fed rate decision. The market will also be looking out for EZ M3, U.S. durable goods, and earnings continue.
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