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Choppy Lower Trade in Metals


Gold and silver remain off balance today along with the rest of the metals complex as the global macroeconomic views to start today has been undermined by weaker equities, trade barbs between the new administration and the Chinese and from the ever-nagging reports of global deaths and infections.


With a series of lower highs and lower lows over the prior 3 trading sessions, news that the US government is planning to shift to electric vehicles, ongoing weakness in gold and a lack of positive Chinese economic data over the last week, it is possible that platinum prices will erode further. The palladium market also damaged its charts again overnight and appears to be under pressure because of its classic physical commodity market standing but also because of spillover pressure from the rest of the metals complex.


While the negatives facing the copper market this morning are not significant, signs of weakening in several recently high-flying industrial material markets in China, negative charts, and signs that US Chinese relations are off to a rocky start should give the bear camp confidence.

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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