Written Commentary
GOLD / SILVER
From a fundamental perspective, the bull camp in gold still lacks bullish buzz, at the same time the market is being presented with currency related selling pressure to start the US trading week.
PLATINUM / PALLADIUM
Extreme volatility has returned to the palladium market to start the new trading week with a 3-day spike low forged early. While not a front seat issue, the market should be undermined as-a-result of news that palladium ETFs on Friday saw a noted outflow of 12,656 ounces, with some traders suggesting investors might have used the aggressive rally as an opportunity to bank profits. With the lack of upside action in platinum last week in the face of the historic rally in palladium.
COPPER
Fortunately for the bull camp Chinese equity markets tracked higher overnight, as another large daily inflow to LME copper warehouse stocks and the market was presented with 7-week lows in Singapore iron ore prices. As indicated in a-number-of other markets recently, the economic buzz flowing from China has become neutral to slightly disappointing and that clearly appears to have coincided with copper’s setback from the February highs and persistent interest in trading around the $4.00 level on the charts.
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.
