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Precious Metals Starting Strong


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.


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.


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.

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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