COPPER
March copper futures fell to just above the $4.08 per pound on Monday, erasing gains from the previous week, as the U.S. dollar strengthened in light of expectations of strong U.S. economic performance heading into 2025.
The U.S. dollar strengthened after U.S. President-elect Donald Trump threatened BRICS nations with 100% tariffs if they create or support a new currency that could challenge the U.S. dollar.
Meanwhile, data revealed that Chinese manufacturing activity increased for the second month in November, following a series of stimulus measures from Beijing. Traders are now looking ahead to political meetings in China this month, hoping for potential policy announcements that could offer insights into the demand outlook from the world’s leading copper consumer.
GOLD
February gold futures dropped to $2,644.50 per ounce on Monday, breaking a three-day streak of gains. The decline came as the U.S. dollar strengthened and investors closely watched developments in the Middle East. In a statement on Saturday, President-elect Donald Trump revealed plans to impose a 100% tariff on the BRICS countries if they moved away from trading in U.S. dollars.
SILVER
March silver futures dropped to just above the $30.50 per ounce support level on Monday, continuing last week’s decline as the U.S. dollar strengthened on growing optimism about the U.S. economic outlook.
Chinese manufacturing activity grew for the second consecutive month in November, following a series of stimulus measures from Beijing. Investors are now focusing on upcoming key political meetings in China this month for potential policy updates that could help gauge the demand outlook in the world’s largest metals consumer.
Interested in more futures markets? Explore our Market Dashboards here.
Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.
ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
A subsidiary of Archer Daniels Midland Company.
© 2025 ADM Investor Services International Limited.
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.
Latest News & Market Commentary
ADM & Industry News
Happy Holidays From ADM Investor Services!
December 18, 2024
The Ghost in the Machine Q4 2024
November 15, 2024