Explore Special Offers & White Papers from AFS

Gold Higher Overnight


While the gold market is back from its overnight high, the market did manage a fresh higher high for the move and the highest price since September 21st and that would seem to indicate the path of least resistance remains up into the start of the new trading week. Clearly gold and silver prices are tracking in sync with the equity markets which somehow continue to hold out hope for some form of stimulus package.


The palladium market at the end of last week soared along with gold and silver, and might have been lifted by optimism toward the return of China but also because of market expectations at the time that a US stimulus package would be agreed upon. While the platinum market also rallied in sync with the rest of the precious metals markets last week, its charts were not nearly as bullish as other metals markets with prices still within a downtrend pattern that began with the August high.


While the copper market did not make a fresh higher high for the move early today the market is sensing positive economic psychology from China after the Chinese President promised to ramp up efforts to make southern China a major technology hub. It should also be noted that the Shanghai markets were the largest gaining equity markets overnight with the CSI 300 gaining 3.03% and the Shanghai stock exchange composite gaining 2.64%.

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.

Latest News & Market Commentary

Explore Special Offers & White Papers from Archer Financial Services

Get Started

Contact Us Today