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Palladium Prices Under Pressure


While the December gold contract did reject another downside extension overnight, prices remain within a negative chart set up pattern and fundamental psychology remains damaged due to the growing likelihood that a stimulus agreement will not be reached before the election.


While the December palladium contract did not make a lower low overnight like gold and silver, the market remains under a cloud of disappointment following a significant washout in the face of very upbeat Chinese auto/vehicle sales. While the damage in the platinum market earlier this week was not as severe as in other precious metals markets evidence of slowing throughout Europe hits right at the heart of platinum demand for auto catalyst in a prime diesel engine area.


After yesterday’s definitive fundamental disappointment from coppers dive, in the face of stellar Chinese copper import data, it could be difficult to rekindle speculative buying interest. However underpinning copper prices today is a more definitive risk against supply from a labor dispute at the world’s largest copper mine in Chile.

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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