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(Kitco News) – Gold (0.39%) and silver (0.27%) are once again up in the European open. This was also the case on Monday, but at the end of the session, the bulls were frustrated with the $ 1900 per ounce zone. It was a mixed risk tone overnight, with Shanghai Composite falling 0.54%, but ASX (0.53%) and Nikkei 225 (2.66%) traded well. The Nikkei 225 managed to exceed 27,000 for the first time since 1991.
The main news came from the US overnight, when the US Congressional House of Representatives passed the bill to send $ 2,000 stimulus checks. This is a significant improvement over the $ 600 quoted in the original deal. The bill now heads to the upper house, the Senate, which meets on Tuesday. At the moment, Senate leader Mitch McConnell has not indicated that he will take the bill to a vote.
In the foreign exchange markets, the US dollar was once again the main laggard overnight. The dollar basket fell 0.35%, while the best performance was the pound that traded 0.46% in the black. In the commodities complex, only WTI was able to capitalize on the weaker dollar, as liquid gold rose more than 1%. Copper is traded at 0.35% in the red.
There was no real data at level one overnight and, but it seems that with a Brexit deal made now and the stimulus deal almost above the line, the feeling of risk is positive, the rates are rising. Gold generally responds well to stimulus announcements, but this time there is no really firm reaction yet.
Looking ahead, highlights from today’s session include the Brazilian unemployment rate, US redbook data, US S & P / CS HPI, weekly API data and Japanese industrial production.
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