Explore Special Offers & White Papers from AFS

Metals Higher on Renewed Optimism


Gold and silver gained overnight on dollar weakness after reports that House Speaker Pelosi and Treasury Secretary Mnuchin were talking about a comprehensive coronavirus relief package, apparently with the blessing of President Trump. This pushed gold through a trend line overnight but not dramatically so, and clearly the situation remains volatile after all the back and forth this week.


The fact that both platinum and palladium were higher overnight suggests that their gains stemmed from optimism about a possible coronavirus relief package as opposed to supply/demand fundamentals specific to either market.


Copper has maintained its momentum after Wednesday’s upside breakout, but it faces an event-filled session today. The December contract stayed inside a fairly tight range yesterday with Chinese markets still being out on holiday, finishing the session with a modest gain. Overnight it posted moderate gains and reached a new 2 1/2 week high.

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