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Washout in Metals Last Friday


While the gold and silver markets are trading higher to start the trading week, a portion of that strength is likely a technical balancing move from last Friday’s significant washout in prices. However, US treasury yields have declined with a bounce in bond prices of nearly 5 points.


Like the gold and silver trade, the platinum market has rebounded aggressively to start the week, but a moderate portion of that action might be simple technical short covering buying. Palladium ETF’s last Friday increased by 2,425 ounces, putting the year-to-date gain in holdings at 2.6%.


Like many other physical commodity markets, the copper market has managed to “bounce” following last week’s reversal of reflation sentiment. Unfortunately for the bull camp, Chinese manufacturing data for February was disappointing in several measures released earlier today and that undermines Chinese copper demand expectations.

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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