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Precious Metal Review in The Big Week

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Not only Japan but the world is facing with the pain that disaster brings to human life. We all deeply want to share things with the Japanese and hope that everything will be ok soon. Back to the metal trading floor, we need to know how the precious metals working this week to plan our work. Let's see what Pitguru Daniel Cronin noted for us!

 

The Metals Review

For the week of March 14th, 2011

 

Precious metals bounced off support levels last week to trade higher as the USD lost ground against other major currencies with the flight to safety play in effect as a huge earthquake rocked Japan and the tensions in the Middle East continue. Gold dipped into the low $1,400's where it was met with good support and now trades higher to $1,430. This looks like another run at the highs are in effect. Keep an eye on the Euro/USD which is just trading a shade under $1.40. Copper has had a big liquidation last week from $4.50 to $4.10 so look for the $4.10-$4.00 mark to show good support as shorts take profit from the recent decline. The equity markets have been on shaky ground these last few weeks so as these go down I think Copper will follow suit.

 

By the way, check out the other futures market reviews to have a full understanding of interactive markets for help!

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