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Bias Remains Higher in Metals


With another lower low in the dollar and the lowest trade since January 27th, gold and silver start the Wednesday US trade with a measure of support from the currency markets. However, gold and silver are showing early price divergence and gold and silver ETF’s yesterday both saw outflows.


With another new high for the move in April platinum this morning the market looks poised to extend in what could be the beginning of a very significant rally. Unfortunately for the bull camp, the palladium market is showing signs of faltering instead of rising in sync with platinum.


A very definitive upside breakout in copper today highlights a bull camp undeterred by a 9,983-ton weekly build in Shanghai copper warehouse stocks (early release due to the Chinese holiday tomorrow). However, London copper prices forged an 8 year high with the markets focus centered on tightening supply and undying hopes of a US stimulus package.


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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