GOLD / SILVER
The precious metals are finding moderate pressure coming into this morning’s action, but they remain clear of their recent lows in front of Fed Chair Powell’s Jackson Hole Fed Symposium speech on Friday. If global markets can regain a risk on mood before then, gold and silver could be in a good position to climb back to the upside.
PALLADIUM / PLATINUM
The PGM sector is finding moderate pressure this morning, but palladium has seen a two-day gain of more than $165 and remains on track for a positive weekly reversal. A sustained rebound in risk appetites could lead to improved global auto catalyst demand, particularly for China, where there were no new COVID cases reported on Tuesday, the first time this has happened since July.
Copper has risen nearly over 30 cents from last Thursday’s spike low, but it has only risen back into its June/August consolidation. Nonetheless, December copper is on track for a fourth daily gain in a row. Dovish commentary by the People’s Bank of China, news that China did not have a new COVID case on Tuesday, and reports that the Ningbo port has reopened should help strengthen that nation’s demand outlook.
Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.
ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
A subsidiary of Archer Daniels Midland Company.
© 2021 ADM Investor Services International Limited.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.