With the rejection of a sub-$4.00 trade yesterday followed by an exclusively positive trade overnight the consolidation low pattern is given additional credibility as support.
Read MoreJust as a cease-fire or sign of negotiation in the Ukraine situation could have hammered gold, palladium, platinum, and silver prices lower, a full-blown invasion by Russian troops has lit the bullish candle.
Read MoreWe do not see a definitive edge in the Copper market as Chinese copper demand news has been lacking lately and supply news has not been able to notably move the needle of the speculative trade.
Read MoreThe primary trend in the precious metal markets might become no trend as noted weakness in the dollar has been countervailed by periodic concern over rising rates.
Read MoreWe see the trend remaining in precious metal markets with palladium and gold likely assuming leadership roles.
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