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Platinum Sharply Higher


With gold and silver both making higher highs for the move early today, the dollar hanging out at the lowest level since April 2018, generally positive overnight international scheduled data flows and surging base industrial commodity prices in China the bull camp has the fundamental edge to start the trading session.


The platinum market has extended sharply on the upside and is giving off definitive signals of a historic run up in the near term. In addition to what appears to be a significant speculative long platinum short palladium spread trade, the platinum market has seen a noted pattern of significant inflows to platinum ETF holdings.


Once again the March copper contract has forged another new contract high. Certainly, copper prices are expensive on a daily chart basis and they are also getting expensive on a weekly basis, but given widespread ideas that global copper supply contracted this year and expectations of “expanding” Chinese demand, record activity at the Port of Los Angeles, a lower Dollar and exploding Iron Ore prices in China, the bull camp continues to hold significant fundamental ammunition.

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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