Metals Review for The Week of August 29, 2011

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The Metals Review
For the week of August 29, 2011​

By Daniel Cronin​

Precious metals had a crazy week with gold plunging more than $200 from its high and then bouncing right back to $1,830 regaining more than half of the losses back. This market has shown buying interest on big dips suggesting this market is no bubble. Silver too declined below $40 but then shot right back up to $41.50. I believe gold will once again try to get to $1,900. Copper has broken the upside resistance of $4.10 and is likely going to try and get to $4.15 as the equity markets try and climb out of their hole.

Disclaimer: Past performance is not indicative of future results. Trading futures and options involves substantial risk of loss and is not suitable for all investors. Fundamental factors, seasonal and weather trends, daily news, and other current events may have already been factored into the markets. The use of stop loss or contingent orders may not protect profits and may not limit losses to the amount intended. Certain market conditions make it difficult or impossible to execute such orders.