Precious Metals Update

What a lovely day for Precious Metals.
We saw Nice Dollar Strength, And a Drop in Crude Oil, But Gold/Silver mantained there levels, with slight drop, however, above its last drop on Wednesday. We still have Fund Managers in Positions with us, Many Investors are considering it as Buying Opportunity.
Even though Profit taking is on the Books, we are seeing Nice Investment pressure in the Market.

Gold is Technically Correcting itself very wonderfully, and its definately making its 2nd wave.
We have now seen 4 days Drop, comparing to 9 Days Rally Upwards.

Now Crude Oil, has broken Technical Levels, and chances for it to hit 53 levels, and REVERSE.
Even though Crude Oil is Pushing down, Gold is Maintaning its VALUE and holding above 613.50 levels.
Now Once the Reversal Begins in Crude Oil, It will support RALLY for Precious Metals.

What the Energy Derivatives Players are wanting is they want OPEC to cut more Production, Though by forcing the price downwards they are trying to Indirectly pass the message, for OPEC to take its next move, As OPEC doesnt wants Price moving below 55 levels.

We are definately Happy with Gold Performance.

MAIN KEY IS MANTAIN GOOD PROTFOLIO, for not getting any Margin Calls, and All is good.

Next week looks brighter.

We have Housing Starts and Building Permits on Friday, which are Another IMPORTANT ECONOMIC DATA..And it can change the Whole Impact on the Market. Thats where main focus shall lye on.



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