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Safe Have Liquidation in Precious Metals


We are still a little unsure as to the primary source behind the aggressive wave of liquidations yesterday in the precious metal markets. However, it does appear as if the mechanical end to the US election process provided another wave of safe-haven liquidation.


The platinum market was unable to sustain a higher high trade on Wednesday and that is likely the result of a bearish shift in sentiment from a significant downside washout in gold, a slight bounce in the Dollar and evidence of slowing US economic data.


The copper market forged yet another new contract high on Wednesday off news that the leaders of the new Congress would make $2,000 stimulus payments the first order of business. However, the events in Washington and signs the US economy is losing momentum is likely to leave the copper market vulnerable to needed back and fill action.

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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