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Higher Bias For Metals


While the gold and silver markets behaved like classic physical commodity markets yesterday in the wake of very disappointing US durable goods data and significant weakness in US equities they seem to have broken that link in the early Friday trade.


In addition to significant chart damage this week the platinum market saw a significant 8,365-ounce daily outflow from platinum ETF’s yesterday (reducing their year-to-date gain to only 1.3%). However, March palladium solidify credible consolidation support at $2,300 and speculative interest might be stoked somewhat by a Reuter’s poll yesterday predicting palladium prices this year to average $2,410.


This week’s declines in copper were fully justified with very disappointing US durable goods, a tightening of liquidity by the People’s Bank of China and a significant washout in global equity markets.

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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