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Review on Metal Market for The Week of June 6th, 2011

Discussion in 'Stock Market News & Analysis' started by gajoinvest18, Jun 7, 2011.

  1. gajoinvest18

    gajoinvest18 New Member

    Jul 8, 2010
    Likes Received:
    The update information around metal market shared by Pitguru Daniel Cronin will help us plan our business if it relates to metals. This is the review for this week:

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

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