Written Commentary
GOLD / SILVER
We are still a little unsure as to the primary source behind the aggressive wave of liquidations yesterday in the precious metal markets. However, it does appear as if the mechanical end to the US election process provided another wave of safe-haven liquidation.
PLATINUM / PALLADIUM
The platinum market was unable to sustain a higher high trade on Wednesday and that is likely the result of a bearish shift in sentiment from a significant downside washout in gold, a slight bounce in the Dollar and evidence of slowing US economic data.
COPPER
The copper market forged yet another new contract high on Wednesday off news that the leaders of the new Congress would make $2,000 stimulus payments the first order of business. However, the events in Washington and signs the US economy is losing momentum is likely to leave the copper market vulnerable to needed back and fill action.
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