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Metal Review This Week : June 6th, 2011

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You have got accustomed to the metal reviews weekly shared by Pitguru Daniel Cronin. This week also, we are going to be back metal market and learn notable points guiding our trading.

 

The Metals Review

For the week of June 6th, 2011

 

Precious metals stayed relatively steady last week with gold taking a dip to $1,520 but rallying back up to $1,545 and Silver falling to $36 but getting right back to $37. The Euro/USD remains strong here as this has rallied 6 cents in the last two weeks alone helping boost the appeal for these metals. I think Gold needs to break out of $1,575 to have any shot at more upside and Silver needs to get above $40 again. Copper has also had a stagnant week rallying above $4.20 but coming back down to earth at the support of $4.10. I believe this market will go as fast as the equities take it and the recent sell off suggest there might be more room for downside to break $4.10 in this market. The Dow has lost 500 points the last week and Copper has gotten pulled down with it.

 

Learn more markets at http://www.pitguru.com/Article.aspx?cmd=archive&day=6&month=6&year=2011

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