Precious Metals Futures Update

Gold had a good recovery yesterday gaining back all losses from Friday, looking at April contracts market recovered all the way from a 657,50 area back to a 666,50 high tracking the rallying oil market.
Momentum seems to slow down in front of tomorrows U.S oil Inventories and resting EURUSD ccy pair.

A break of the current resistance 667,65 indicates much higher levels up at the $680/oz.

Tomorrow will be a key day where both Oil inventories and US Durable goods data could be a vitamin injection pressing the Gold through the resistance.

Copper is extending its rally started in early February and yesterday pressed back up to thew old range c310 - 350/Lbs printing a 314,75 high Supplies is running short globally as we enter the high peak season of construction.

We fancy picking up May Copper on dips towards 310- 308.50/Lbs area targeting 325 next week.