Weekly Metal Review: The Week of May 2nd, 2011

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The Metals Review
For the week of May 2nd, 2011

Precious metals are coming off significantly over the weekend thanks to US forces capture and kill of Osama Bin Laden. This news came out late last night and is huge. Silver dropped $5 in a matter of minutes and Gold dropped $30 to $1540. Silver now trading $44 and had a low of $42 last night. Some incredible moves as this great news is upon us that Bin Laden is dead. I believe the market will now see lower prices for these metals as the war on terror has the potential to slowly come to an end. I will look for Gold to again test $1540 this week with Silver moving to test $40.