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Liquidation Mode For Metals


The bull camp in gold and silver should be very discouraged going into the last trading session of the week, as the markets failed to fully respond to what should have been a very positive day of trade on Thursday. Not surprisingly, gold and silver have reversed sharply this morning in response to a spike in US rates and the ensuing jump in the Dollar.


While the platinum and palladium markets showed divergence in the magnitude of the dual gains posted yesterday, they have realigned this morning with noted downside action. However, platinum should see some support from an ETF inflow of 4,259 ounces yesterday which pushed the year-to-date net purchases up to 1%.


While copper prices have initially held up relatively well in the face of a reversal into risk off mentality, continued gains in global copper warehouse stocks, strength in the dollar, tempered global growth expectations clearly shift control to the bear camp. However, copper could garner some support from Chinese government indications they will press for pollution control, which in turn could impact production in a-number-of industrial metals.

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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