Precious Metals Futures Update

Although Gold and Silver found new highs, they were short lived and it would now appear that precious metals could be in for a slight correction.

Yesterday's dollar rally could have aided the turn around and should be see some further downside, then this could weigh on metals prices.

Throughout this week we have eyeing up the 656.00 to 657.50 area as significant and a good area for fresh longs in the Gold market.

We will stick to our guns on this one and be willing to accept a correction back towards this level as significant, but enough for us to consider fresh longs from this level, at least on an intra-day basis.