GOLD / SILVER
With the dollar index holding near 7-day highs, it is not surprising to see gold start off under pressure the today apparently today. Apparently, seeing Australian consumer prices in the 3rd quarter increase by 0.8% is not an inflationary windfall for gold, as the trade instead fretted over the prospect of higher Australian interest rates.
PALLADIUM /PLATINUM
With both palladium and platinum coming under selling pressure in the wake of declines in gold and silver yesterday, it would appear as if the precious metal complex has come back into sync. Ongoing slowing concerns in China and strength in the dollar provides the bear camp with an edge into the 3rd trading session of the week.
COPPER
With a big range down extension overnight the $4.50 level has been reached and has probably become resistance! Surprisingly, the copper market did not benefit from news that Chinese industrial profit growth jumped to 16.3% in September from year earlier statistics as that should indicate good demand for commodities like copper.
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.