Explore Special Offers & White Papers from AFS

Metals Prices Higher

GOLD / SILVER

Despite what appears to be further progress on a vaccine and generally higher global equities, the gold market has returned to 5 day highs and would appear to be poised to retest last week’s 8 year highs. In fact the gold market is tracking higher this morning despite a prediction from the world Gold Council that consumer demand for gold will remain soft in the 2nd half of the year due to the ongoing coronavirus surge. The chart action in the silver market is even more bullish than in gold, with prices this morning nearly taking out recent highs which in turn were the highest prices since last September. While we see the investment component and spillover lift from gold as the primary bullish forces, production at 2 key silver mining companies declined in reports overnight and therefore we see silver prices rising above $20.00 directly ahead.

PLATINUM

While the PGM markets were certainly under spillover pressure from gold and silver for most of the Tuesday trading session, the action appeared to be the result of classic physical commodity market demand fears from the US infection rise. However positive vaccine news overnight did not prompt a positive reaction in palladium and that highlights lingering bearishness.  The platinum market forged a fresh 6 day low yesterday and appears to be poised for a decline back toward the consolidation lows on top of $800.

COPPER

With the copper market falling back from recent highs that were posted on very significant trading volume, it would appear as if prices are faced with a key junction directly ahead. Obviously further escalation of US/Chinese tensions from Hong Kong sanctions and fresh retaliation threats from China fosters some concern for the Chinese recovery and Chinese copper demand.

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