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Gains in Metals


Apparently “hope” for US stimulus, the capacity to look beyond overwhelmed US emergency rooms, another new low in the dollar and a very bullish take away from the FOMC has ignited follow-through buying of gold and silver.


As in many other physical commodities the platinum market is rising off what appears to be a very broad-based cyclical buying wave. The palladium market appears to have found thin support around the $2,300 level and is being pulled up begrudgingly by outside markets.


We are surprised that copper has not forged a new high for the move in the early going today given the unrelenting rise in the number of Chinese industrial materials and the trade also beginning to focus on falling/tightening global copper warehouse supplies. It should be noted that iron ore and coal prices in China are rising so fast that the government is beginning to consider stepping in against the gains.

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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