GOLD / SILVER
While August gold has not made a contract high this morning a higher high early and a significant upward pulse in silver suggests the complex is in-the-midst of another range up extension.Gold ETF’s increased their holdings for 17th straight day yesterday with the addition of 317,860 ounces of gold yesterday. Silver ETF’s also added 3.84 million ounces to their holdings bringing their net purchases to date up to 225.4 million ounces.
PLATINUM / PALLADIUM
The platinum and palladium markets have begun to show very positive sensitivity in sync with gains in gold and silver prices. The palladium market has a much stronger chart set up than platinum with the market seemingly on a direct track to return to the mid-May highs above $2,144.
The copper trade should be impressed with the markets ability to hold near yesterday’s high throughout the overnight trade, as the market still appears to be facing Chinese demand suspicions. However big picture macroeconomic influences are supporting equities and physical commodities today with an agreement on an EU recovery package, fresh coronavirus vaccine hopes and optimism on the progression toward a US stimulus package.
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.