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Early Bounce in Gold and Silver


For today’s action, we suspect gold and silver will take signals from the direction of global equities and perhaps indirectly from action in US treasuries as treasuries have been the most consistent flight to quality instrument of the past 3 months. However, it could be difficult to gold and silver prices to extend in the wake of signs that a stimulus package will soon be agreed upon as that will likely send equities higher and Treasuries lower and ultimately exert selling pressure on gold and silver.


While April platinum this morning is trading only marginally higher in the early going there is a positive buzz toward precious metals, the dollar is slightly weaker and platinum ETF’s saw a noted inflow yesterday. Like the platinum market, the palladium charts favor the bear camp with a series of lower highs and lower lows in place.


While Chinese economic data overnight improve from the prior month the magnitude of the improvement was insignificant and the several reports failed to meet expectations and that has thickened overhead resistance in the copper this morning.

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.

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