GOLD / SILVER
Global sentiment starts the new trading week positive toward gold and silver with residual optimism carried over from a sharp jump in Chinese industrial profits last month and by unending hope for a US stimulus that is now expected to include large direct checks.
PLATINUM / PALLADIUM
While both platinum and palladium are starting off with positive chart action, the platinum market appears to have more bullish traction. Obviously, the prospect of large US stimulus checks, signs of strengthening Chinese exports and surging Chinese industrial profits provides a positive demand environment for the PGM markets.
COPPER
With a 4-day high and a temporary trade above $3.60 it-would-appear that the copper market has gotten beyond last week’s corrective action and could forge new contract highs in the coming sessions. Obviously, the combination of signs of progress on a US stimulus package and the large 15% jump in Chinese industrial profits ratchets up copper demand hopes to start the week.
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