Metals Review for The New Week: 3/8/2011

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The Metals Review
For the week of March 7th, 2011

Precious metals continuing to move higher as last week saw a significant breakthrough in the Gold price of $1,430 which was huge resistance with this market testing this four times now. Silver now well past the $34 level as this market shoots for higher highs as well and the continued fighting in the Middle East and the USD spiraling will only help continue the rally with these precious metals.

Copper continuing to show resistance above $4.50 as this market was held in check last week with a declining equity market. The base metal traded down to below $4.40 and sits at $4.45 right now. Rallies could be sold here above $4.50 as I believe prices will gravitate back to $4.20.

That's what we can learn about the metal market this week. I hope that the information shared by Pitguru Daniel Cronin will help guide your decision on the coming days.