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Metals Markets Higher


While the gold market could have seen some pressure this morning from Goldman Sachs suggestions that a decline in “fear-based demand for gold” in the face of recovery might hold back gold prices they also raised their 3, 6 and 12 month forecasts to $1800, $1900 and $2000 respectively. That major trading house also suggested that gold prices materially above $2000 might require inflation readings to rise above the Fed’s 2% targeting.


While the palladium market generally remain within its recent sideways coiling pattern, prices have drifted lower and made lower lows throughout the week in a fashion that leaves the edge with the bear camp. In fact, the palladium market failed to draft support from an industry report indicating both PGM markets would eventually post a supply and demand deficit this year.


In addition to a risk on vibe flowing from global equity markets overnight the copper market is given an added assist on the upside by news of a secret US/Chinese trade meeting in Hawaii. Evidence of progress in trade talks is seen from fresh Chinese indications that they will honor all phase 1 obligations.

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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