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Improving Risk Sentiment Provides Support


The precious metals market were able to shake off pressure and reach new 4-week high early in today’s action. A weaker Dollar has provided underlying support, and Fed tapering prospects appear to be more certain, which has relieved some pressure on gold and silver prices.


Both PGM metals are finding decent support early in today’s action, with palladium holding the upper hand on platinum and reaching a new 5-week high. The palladium market has posted impressive action over the past two sessions as it respected the knife-down trade from Tuesday and ultimately took out Monday’s high. While the platinum market could catch tailwinds from palladium if it were to launch higher again, it might need to see gold and silver rally to join the party.


After finding early pressure in the wake of Chinese inflation data and lukewarm Chinese equity markets, copper regained upside momentum and reached a new 4-month high coming into this morning’s action. Like gold and silver, the rally in copper prices (in excess of $0.40 over the past six sessions) seems to be a little overdone.

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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