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Precious Metals Review This Week

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You are going to have a short review on metal market this week by Pitguru Daniel Cronin. Once you care about this market, just learn the market and discuss together to find out a good plan guiding your way in the new week!

 

The Metals Review

For the week of March 28th, 2011

 

Precious metals had a peculiar week. Gold rallied to new heights over $1,445 but had no real conviction in keeping the price above there and has subsequently pulled back $25 right now to $1,422. Silver had also rallied above $37 and was looking poised to continue its run but it too faded a bit. Like Oil and the energies, I believe this market will try and sell back down to support of $1,400 so look for a potential liquidation to start the week as prices will drift lower as the USD strengthens against other major currencies. Copper looks to be ready to head back down to $4.30 as well so look for this base metal to react the same with equities, starting the week potentially lower as well.

 

I hope the information shared will be useful for your business. Besides metal review, you can have a look at other futures market reviews to have a full view of what will be going on in the futures trading floor.

 

3-28-11%20hg.jpg

***chart courtesy Gecko Software’s Track n’ Trade Pro

Past performance is not necessarily indicative of future results.

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