Explore Special Offers & White Papers from ADMIS

Minor Support Fundamental Develops

GOLD / SILVER

With another higher high for the move to start today, the bull camp has a slight edge in gold and silver. In fact, with the dollar showing an extension down yesterday, and given a new low for the move earlier today, the currency impact on the precious metals markets looks to be supportive or simply neutral. Like gold, the silver market saw a minimal outflow from ETFs yesterday and has also forged a pattern of higher highs and higher lows in 3 straight sessions.

PLATINUM / PALLADIUM

The PGMs seemed to draw support from the weaker dollar and strong economic data on Monday as both held firm despite weaker action in gold and silver. A 2 1/2 year high in US light vehicle sales points to potential gains in PGM consumption for auto catalysts and that should help shore up fundamental support in July Platinum around the $1,200 level. Like platinum, palladium ETF holdings yesterday were virtually unchanged, with the year-to-date gain holding at 1.5%.

COPPER

While some think the aggressive flare in prices yesterday was overdone off the fear of a reduction in copper production in Chile, that lift is partially in question today after officials indicated the restrictions on activity will not impact copper mine operations or exports. However, given the flare in Chilean infections, the threat against mine production should not be discounted yet.

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.

Registered in England No. 2547805 a subsidiary of Archer Daniels Midland Company. Risk Warning: Investments in Equities, CFDs, 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 indeed may incur additional liabilities. These Investments may entail above average financial risk of loss, and investors should therefore carefully consider whether their financial circumstances and investment experience permit them to invest and, if necessary, seek the advice of an independent Financial Advisor. Some services described are not available to certain customers due to regulatory constraints either in the United Kingdom or elsewhere.

Latest News & Market Commentary

Explore Special Offers & White Papers from ADMIS

Get Started