Metals Review This Week of May 16th, 2011

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The information how Gold, Silver and Copper are trading this week will be shown right away for you to plan your business.

The Metals Review
For the week of May 16th, 2011

Precious metals kept on liquidating this last week with Gold settling below $1,500 and Silver lower to $34 as the USD strengthened against other major currencies. The Euro/USD is now trading at $1.41 which is down considerably from three weeks ago from a high of $1.4925 as all commodities have been falling. The Silver trade looks to be over for now with the price falling from $49 to $32 as that is a huge decline. I believe Silver will hover around the $30 mark now as it tries to find some support. I think Gold has support at the $1,475 level so watch this mark carefully as it is almost near there already at $1,488. Copper held the $3.85-$3.90 support and is now up to $4.00. I will look for this market to still trade between $3.85 and $4.05 until it builds another solid base.

For the full view of metal and other activities like how Crude oi, Cotton or Financial market works, just check out the Silver chart and other market reviews at: Pitguru Reviews