Explore Special Offers & White Papers from ADMIS

Positive Note For Gold Start


In Asia gold prices overnight climbed near 4-week highs and the US gold market looks to start on a slightly positive note perhaps because of the fresh downside extension in the US dollar. While the gold and silver markets have not garnered notable lift from inflationary developments, seeing 10-year highs in inflation readings in the euro zone is certainly a potential bullish catalyst for the gold and silver trade.


Unfortunately for the bull camp, the recent recovery bounce in palladium prices was engineered on declining trading volume and falling open interest which could indicate a lack of bullish interest in the long side from levels above $2400. However as opposed to gold and silver, the palladium market seemed to get some bargain-hunting buying around the $2,400 level yesterday and at times the December contract was trading as much as $76 an ounce above the Monday morning lows. The platinum market continues to see volatile daily ETF flows, with platinum ETF holdings last week declining by 30,715 ounces.


The copper market deserves to be tracking lower this morning following very disappointing Chinese manufacturing PMI data released overnight. However, the setback in copper prices is very modest considering the importance of Chinese copper demand and that suggests the bull camp has embraced the prospect of fresh stimulus from the Chinese government as they respond to the weakened economy.

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.

Latest News & Market Commentary

Explore Special Offers & White Papers from ADMIS

Get Started