GOLD / SILVER
Market conditions for gold and silver have shifted 180 from yesterday afternoon, with prices rebounding this morning in the wake of a slight decline/reversal in the dollar and strength in many physical commodities. In the wake of the Fed’s failure to “take action” seeing a stimulus package come to fruition would likely help gold and silver regain ground lost following the Fed meeting.
While the palladium market is showing some initial positive traction today a significant sentiment shift has taken place this week and that shift has been accompanied by a significant deterioration in the palladium charts. Platinum ETF holdings yesterday increased by 1894 ounces and remain 11% above the total seen at the beginning of the year.
Seeing the December copper contract forge an upside breakout in the face of a large jump in weekly Shanghai copper warehouse stocks the morning highlights the markets focus on demand as opposed to supply. In other words, seeing China issue a 12th scrap copper import quota for the year has distracted the trade from what is becoming a pattern of builds in exchange supplies.
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.