jackfutu18
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We are going to learn about precious metal market this week.
Precious metals took a serious dive last week and are looking to continue the trend as Gold now is below $1,500 an ounce as the USD continues to shine against other precious metals including the Euro. Silver has been having a hard time getting above $38 and same was the case last week as this market got to $37 but then did an about face and now trades under $34.00 with the USD continuing to increase in value. Silver’s next support level is at $32, just a few dollars away and gold’s support level here is $1,470 which is about $30 off where it is right now. These two levels are critical support points that if they are breached could cause huge selling coming into the metals markets as traders and funds liquidate their positions.
Copper has been in a tight range from $4.00 to $4.15 for a few weeks now. This market has....
The futures review will tell you more information on Copper and other futures markets.
The Metals Review
For the week of June 27, 2011
For the week of June 27, 2011
Precious metals took a serious dive last week and are looking to continue the trend as Gold now is below $1,500 an ounce as the USD continues to shine against other precious metals including the Euro. Silver has been having a hard time getting above $38 and same was the case last week as this market got to $37 but then did an about face and now trades under $34.00 with the USD continuing to increase in value. Silver’s next support level is at $32, just a few dollars away and gold’s support level here is $1,470 which is about $30 off where it is right now. These two levels are critical support points that if they are breached could cause huge selling coming into the metals markets as traders and funds liquidate their positions.
Copper has been in a tight range from $4.00 to $4.15 for a few weeks now. This market has....
The futures review will tell you more information on Copper and other futures markets.
