GOLD / SILVER
Unfortunately for gold bulls anecdotal demand news from India and other portions of the Middle East remains discouraging, with regional lockdown still dealing a significant blow to retail sales and that action resulting in a deepening of regional gold discount pricing.
PLATINUM / PALLADIUM
As indicated in the gold and silver coverage today we see portions of the precious metals complex as significantly cheaper than others. Platinum is certainly cheaper than palladium given its current price is $1200 or 50% below its all-time high, while palladium is $300 below its all-time high.
From a technical perspective, copper appeared to run into very solid resistance at $3.6180 yesterday. However, given strong Chinese industrial profits yesterday, a larger than expected US stimulus prospect and reports of extremely busy US West Coast ports, we would have expected the copper market to have held all its initial gains yesterday.
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.