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Moderate Pressure For Gold


With gold closing lower in Hong Kong and Shanghai and futures in the US starting off under moderate pressure, the path of least resistance is pointing down to start the new trading week. Clearly higher equities and strength in most physical commodities points to a risk on session, thereby putting gold and silver in a liquidation track.


After seeing a-number of bullish long-term fundamental demand headlines over the last month, the palladium market has shown the inability to hold gains and has been unable to track higher with platinum. Obviously, the talk of rotation from expensive palladium to cheaper platinum, combined with the potential for long platinum/short palladium spread trading, leaves thick resistance hanging over the palladium contract.


Extensive volatility is expected to continue in copper with big picture macroeconomic issues at key junctions outside of China and China showing signs of moving to quell aggressive price gains in some industrial commodity prices. However, copper should see support from the risk on start to the trading week.

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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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