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Moderate Gains in Copper


Yesterday the December copper contract discounted negative Chinese equity market action and a significant single day increase in LME copper warehouse stocks of 29,500 tons and in turn managed a moderate net gain to start the trading week.


While it is difficult to ascertain the real driving force behind gold and silver prices so far this week, it appeared as if the markets yesterday were paying attention to positive physical commodity market demand developments.


While the palladium market has forged a 4 day high early today the magnitude of the gains are not large enough yet to give the bull camp definitive control. In the platinum contract, the market has failed to take out yesterday’s highs in the early going today and the market might be under some pressure given a slightly negative vibe toward physical commodity markets this morning.


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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