Precious Metals FUTURES Update

April Gold broke three times the 660 level since last Friday but each time to be rejected abruptly which is in general not a good sign.

Nevertheless we are still in a Bullish channel. If the 659.50/660 support hold during the US trading session focus should be on last Friday high at 667.

Gold could be pressurized up to the US Oil Inventories at 16:30 GMT as it failed also to break the 60.00 psychological level. Support will also be coming from a weakening USD lately.

March Silver also trading below the 13.80 resistance as long as we do not break this level we stay at risk of a nice double top and sideway trading with retracement towards 13.55