Precious Metals in This Week : June 13th, 2011

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We are viewing how Gold, Silver and Copper market works this week under the analysis by Pitguru Daniel Cronin.

The Metals Review
For the week of June 13th, 2011

Precious metals falling at the end of last week with Gold dropping $16 in a matter of minutes as the top still looks to have set in this market with the downtrend continuing. Silver also looking to head lower as this market fell to below $36 last week. I look for continued weakness in the metals as the USD made a very nice move to the upside in the beginning of last week. I think Gold needs to break the $1,520 mark to head lower which I believe will happen early in the week. Copper had a losing week as well following the equity markets lower with the DOW below 12k now as the industrial metal looks to head to $4.00. This market had a tough time holding above the $4.15 mark and looks to sell off this week. I look for $3.90-$3.85 to have good support as this low held last time.

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