Explore Special Offers & White Papers from AFS

Silver Primary Market Over Gold?

GOLD / SILVER

Other than a slight downward tilt on the charts the gold market lacks definitive sentiment this morning. However, divergence between gold and silver has dissipated this morning with silver clearly outperforming gold on the upside this morning. On the other hand, we suspect higher treasury yields overnight have increased resistance hanging over the gold market.

PALLADIUM /PLATINUM

Despite outside market support from higher gold and silver prices, slight weakness in the dollar, and signs that the Chinese central bank is stepping up to support the Chinese economy the palladium market is content to continue to coil sideways. The platinum market yesterday forged a noted trading range of $28 but rejected breakouts of the recent range in both directions.

COPPER

The copper market appears to have soundly rejected the $4.40 level culminating a 4-day high to low washout of $0.23. Holding back copper this morning is a 4,225-ton inflow to LME copper warehouses. While not major inflows, the LME continues to see daily additions to exchange inventories which in a sense will rob copper of a bullish force that had been in place since the beginning of the 3rd quarter 2021.

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 Archer Financial Services

Get Started

Contact Us Today