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Gold at Lowest Level Since June

GOLD / SILVER

April gold traded lower overnight to its lowest level since June. Traders cited low spot demand and the sharp increase in Treasury yields this week for the decline. The outlook for gold and silver remains negative as the bull camp has been unable to maintain a consistent focus on a single bullish storyline.

PLATINUM / PALLADIUM

Platinum sold off overnight but then recovered and was back in positive territory late in the session, leaving the market close to posting a third straight weekly gain. The palladium market initially avoided washout pressure from other markets but did violate critical support yesterday.

COPPER

Unlike several other industrial commodities, copper has held its spike up move on Thursday and has followed through with strong gains overnight. The market has discounted a large increase in Shanghai exchange copper stocks, which are at their highest levels since November.

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.

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