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Short Covering in Gold


The gold market is starting off the week on a positive note despite a move to even higher interest rates for Treasuries, with Bonds and Notes prices moving to their lowest levels in 11 months.


Platinum is lower this morning, as the slightly negative risk tone seems to be weighing on the market. Platinum and palladium recovered from early setbacks on Friday to close higher on the day. Better than expected economic data spurred ideas of increasing demand for automobiles.


Copper has risen more than 58.00 cents over the past 18 sessions and it at its highest level since the summer of 2011, but the market is extremely overbought with and record spec net long position.


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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