Written Commentary
GOLD / SILVER
Apparently gold and silver are drafting a measure of buying interest this morning off the unsettled US political situation with threats of further violence/protests in the headlines and the potential for impeachment expected to prompt additional flight to quality buying. However, stock index futures are showing strength, the Dollar remains 120 points above the recent lows and interest rates continue to nudge higher and therefore there are factors in place to limit gains early today.
PLATINUM / PALLADIUM
While the platinum market failed aggressively yesterday in a fashion that suggests the bullish buzz from early January has run its course, the April contract has regained 50% of the January washout already and there should be some outside market spillover lift to start today. Like the platinum market, the palladium market has seen a consistent breakdown from the January highs, but the market now appears to have found support just above last Friday’s low of $2,341.
COPPER
After nearly a year of copper trading heavily/nearly exclusively on Chinese headlines, it was not surprising to see copper prices carve out the largest daily decline since October 1st yesterday in the face of renewed infections in China especially with the Chinese government beginning to restrict activity.
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.
