Metals Futures Update

Precious Metals remained in bullish territory, but we need to see a move above resistance soon otherwise we will be in danger of a correction in gold and Silver. If we see a correction, we will be looking for strategic longer term bullish positioning in precious metals.

Any setback in Silver towards the 13.269 presents a good longer term level for buyers, likewise for 657.50 in the Gold.

Much of the buying is emanating out of the the Asian markets, with the rally in equities fueling the upside in especially gold. We expect this relationship to hold true for up- and downward momentum. Furthermore the current dollar weakness is also providing lift to the market. Stay true to these themes in today's trade, as they are the main market movers currently.