Written Commentary
GOLD / SILVER
While gold and silver prices have started the Tuesday trade under pressure, we do not detect significant vulnerability as was the case in the prior trading session. However, the dollar has seemingly forged some form of a bottom around the 90.00 level and that supportive force from the last several weeks may be missing in the coming trading sessions.
PLATINUM / PALLADIUM
While the platinum market did manage to reject the brunt of the washout yesterday, the damage to the charts probably makes would-be buyers skeptical of stepping in without a definitive improvement in overall market sentiment as measured by equity market gains. The palladium market was pulled down by big picture broad-based negative sentiment yesterday,
COPPER
From a technical perspective, the bias in the copper market remains down despite a slight dissipation of global anxiety from the reports of a new strain of the virus in the UK. However, LME copper stocks forged another decline of 3,375 tons overnight and world stocks of copper continue to tighten.
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