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The Metals Review for This Week - May 3rd, 2011

Discussion in 'Stock Market News & Analysis' started by gajoinvest18, May 24, 2011.

  1. gajoinvest18

    gajoinvest18 New Member

    Jul 8, 2010
    Likes Received:
    Like reading an endless story, the news week starts, it's time for us to turn to another chapter. Let's see what Pitguru Daniel Cronin has written for us!

    The Metals Review
    For the week of May 23rd, 2011​

    Precious metals had a bit of a bumpy ride last week with Gold unexpectedly dropping to $1,470 only to recover some $40 to trade at $1,510 as this market still keeps on moving higher. Silver held steady at $35 per ounce after trying to get below $32 once again. I think the news about the European debt crisis coming back into the fold will surely hurt the metals here as the USD will gain great momentum this week. I will look for these metals to sell off in the beginning of the week on a strong USD. I say Silver will test $32 again. Copper has reached $4.13 on the COMEX where it is met with great resistance as prior support becomes resistance now. I will look for Copper to retrace back to below $4.00 after the news of the Greek bond issue. I feel this market will surely be sold on this news.

    To learn about financial, crude oi, gasoline, suger, coffee or cocoa market, just spend some time with the reviews for your whole trading week: http://pitguru.com/Article.aspx?cmd=archive&day=23&month=5&year=2011

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