Even with all the excitement surrounding gold and silver today the industrial metals stayed the bearish course throughout Monday’s session. Copper continued its slide to $2.7660 down $.0535 basis July futures. Platinum closed at $1517.30 down $8.00 but recovered from a session low of $1492.40 not following the stock indices to new post “flash crash” lows for their downward moves. We expect Pt to test its May low of $1446 in the coming sessions.

Ho hum except for the heat in the gold market. Stay sidelined and wait for platinum and palladium prices to come down before buying. Ride the copper beast down to weekly support at $2.4000.


July platinum $1,517.30, down $8; Range $1,492.40-$1,520.00
July copper $ 2.7660, down $.0535; Range $2.7200-$ 2.8095
Sept palladium $430.35, down 65 cents; Range $419.40-$431.70
August gold $1,240.80, up $23.10; Range $1,212.10-$1,243.30
July silver $18.162, up 86.3 cents; Range $17.195-18.295