Written Commentary
Happy Holidays From ADM Investor Services!
December 18, 2024
SILVER
After sharply higher prices yesterday, March silver futures are steady today. Prices remain near one-month highs as Chinese policymakers revealed plans for additional economic stimulus, which enhanced the demand outlook in the world’s largest consumer of metals.
The Politburo announced that China would adopt a “moderately loose” monetary policy and take a “more proactive” approach to fiscal stimulus next year, signaling a shift from the more cautious tone of the previous decade. Silver, along with other precious metals, gained from rising expectations that the U.S. Federal Reserve will implement another interest rate cut this month.
COPPER
After sharp gains yesterday, March copper futures are slightly lower today, although they remain close to the one-month high reached in the previous session. This followed the announcement of new economic stimulus measures by Chinese authorities.
This move is expected to increase demand in China, the world’s leading copper consumer, in light of growing concerns about the potential impact of tariffs under the incoming administration of U.S. President Donald Trump.
GOLD
February gold futures advanced to the highest level in two weeks on Tuesday, marking its second consecutive day of gains, driven by China’s policy shift and ongoing geopolitical tensions in the Middle East.
Additionally, it was recently reported that China’s central bank added gold to its reserves for the first time in seven months, further increasing demand for the precious metal. Geopolitical instability in the Middle East, particularly related to the Syrian government, also provided support as traders sought safe-haven assets.
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
The Ghost in the Machine Q4 2024
November 15, 2024
ADMIS Clients Gain Access to Abaxx Exchange and Clearinghouse
November 7, 2024
