GOLD / SILVER
At least in the early going today it would appear that gold and silver prices are likely to post significantly narrower trading ranges to end the week. Similarly, the dollar did not show definitive direction overnight and appears to have settled into a tight 3-day consolidation range.
PLATINUM / PALLADIUM
With a new high in palladium prices Thursday taking place alongside strength in platinum, it is possible that bullish interest now has breadth and prices might be able to extend on the upside next week. However, in the recent past speculative longs in palladium appeared to protect their positions with short platinum.
COPPER
In retrospect, a large portion of the Thursday US rally in copper was likely a delayed reaction to favorable developments from China. However, copper also appears to be attracting fresh buying off signs that US copper demand is improving, but theme was offset overnight by disappointing Chinese GDP readings.
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.