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Gold and silver are started the European session slightly lower this morning following any major lack of direction in the Asia Pac session. The yellow metal trades at $1776/oz just under flat while silver has dropped nearly half a percent to trade at the 25.87/oz area. Copper has broken a big resistance at the previous wave high to trade at its highest level since August 2011
Risk sentiment in the Asia Pac area was mixed. The Nikkei 225 (0.36%) closed higher while the ASX (-0.21%) and Shanghai Composite (-0.77%) both fell. Having said that markets in Taiwan, South Korea and India all performed well.
In the FX markets, the dollar index moved 0.06% lower and the biggest mover was AUD/USD which recorded a gain of 0.20%. This was closely followed by GBP/USD which is currently trading 0.19% in the black. Spot WTI has moved 1% lower and BTC/USD jumped over 7% to hit $52932.
Look at some of the news stories, the EU is leaning on the UK to align UK food standards to EU food and safety rules. There is also a bargain on offer if the UK take a deal. Apparently, in return the EU is offering easing import and exports checks between Britain and Northern Ireland.
Over in the U.S., swing Democratic Senator Manchin backs Republican smaller infrastructure proposals. Manchin spoke over the weekend and said he would support a more targeted version of Biden's $2 trillion infrastructure package. Adding to this story U.S. Senator Graham republican support could exist if the was $800-900 bln.
Bank of England (BoE) Dep Gov Broadbent sees "very rapid" economic growth at least over the next couple of quarters. There was also a note of caution as he said "it's going to be quite noisy and bumpy this year".
Looking ahead to the rest of the session highlights include German Ifo, U.S. durable goods data, commest from ECB's Panetta and Lane.
By Rajan Dhall
For Kitco News
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