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Metals Mostly Higher


While bullish fundamental forces continued to stack up with the flurry of bullish Fed statements/actions from earlier in the week and that provides a solid foundation for August gold prices economic uncertainty doesn’t appear to be definitive enough this morning to propel gold sharply higher.


With the PGM markets coming under pressure following a series of safe haven developments this week, it is clear that investors are not seeing the platinum and palladium markets as flight to quality tools. In fact, both palladium and platinum appear to be under pressure because of resurgent demand fears and that pressure is given added credence by fresh damage on the charts yesterday.


With the copper market forging a noted correction yesterday some of the bullish resolve was tempered especially with infection rate gains in certain US states rekindling demand fears. Overnight LME copper warehouse stocks broke a very long chain of daily declines with a build of 2950 tons but that minimally

bearish news was more than offset by another weekly decline in Shanghai copper warehouse stocks of 11,782 tons.

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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