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Gold on Positive Track


With a fresh downside extension in the dollar, a significant jump in US infections (171,000 Wednesday) and economic uncertainty from soft European data, gold starts the Friday trading session on a positive track. However, we see a very major junction today in gold and silver prices, with the subject of “tapering or not tapering” the dominating focus of the trade.



Like the gold and silver trade yesterday, the PGM markets disappointed with price declines in the face of new all-time highs in equities, positive US jobs data and a downside breakout in the dollar. Going forward, the palladium market should derive minimal support from Impala platinum predictions of ongoing tightening in palladium and rhodium.


While the copper market should see support following news that Codelco copper production in July fell relative to the prior month, with the world’s largest mine also posting production 17% below year ago levels. Furthermore, overall Peru copper output in July declined by 4.3% versus year ago data.

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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