The Metals Review
For the week of September 19, 2011
By Daniel Cronin
Precious metals saw a decline in prices last week. The gold market dropped below $1,800 before giving back some gains as the Euro/USD sank to new lows this year below 1.36. Silver fell from $42 to $39 as this market followed gold as well. I will look for a rebound this week as the equity market continues to drag leading to a possible rally in the metals.
Copper going south as the market heads towards huge support of 3.85. If this is broken I believe big liquidation will happen as this is a crucial triple bottom in the market.
**Chart courtesy Gecko Software’s Track n’ Trade Pro
Past performance is not necessarily indicative of future results.Disclaimer
: Past performance is not indicative of future results. Trading futures and options involves substantial risk of loss and is not suitable for all investors. Fundamental factors, seasonal and weather trends, daily news, and other current events may have already been factored into the markets. The use of stop loss or contingent orders may not protect profits and may not limit losses to the amount intended. Certain market conditions make it difficult or impossible to execute such orders.