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Inflation Data Could Spark Volatility

GOLD / SILVER

After the huge trading ranges on Monday and sharp bounces off their spike lows, it was not surprising to see gold and silver spend Tuesday in relatively tight ranges near the center of Monday’s range and close to unchanged. Gold was higher overnight and silver was lower, but they both stayed close to Monday’s close.

PALLDIUM / PLATINUM

September Palladium was near unchanged last night after yesterday’s modest recovery. Palladium benefited from an improvement in global risk sentiment on Tuesday, but that sentiment may be tempered by the increases in Covid cases in the US and Asia. October platinum moved higher overnight for the second straight session after putting in a spike low on Monday.

COPPER

Copper prices have been able to lift clear of Monday’s 3-week low, but they have lost some strength overnight and may need to find more supportive demand news to extend a recovery move. September copper built on early support on Tuesday and went on to post a decent gain for the session.

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