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<p>[QUOTE=&quot;pitgurufk, post: 1995638, member: 72266&quot;]<p style="text-align: center"><b><b><font size="5">The Metals Review</font></b></b></p> <p style="text-align: center">For the week of August 8, 2011</p><p><br /></p><p style="text-align: right"><b>By Daniel Cronin</b></p><p><br /></p><p>Precious metals had a very wild ride last week as the markets rallied in the beginning of the week above the all time high at $1,630 and made new highs at $1,685 as the US credit rating was downgraded from AAA to AA+.&nbsp; This will be huge for gold and I would expect to see an influx of buying come in during the week with the price headed over $1,700.&nbsp; Silver has been lagging behind Gold for the last few weeks but I think this is a huge chance for Silver to make up significant ground.&nbsp; Look for Silver to rally above $40 to start out the week as this will move up swiftly.</p><p><br /></p><p>Copper has had a huge downturn down some 40 cents since the high as this market is getting clobbered with the economy taking a nosedive.&nbsp; This market looks to be headed below $4.00 this week so look out for this level.&nbsp; Next support is $3.85 so look for this market to pause around here and get its bearings straight.</p><p><br /></p><p><img src="http://futurespress.com/imgndoc/pitguru/8-8-11%20si.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p>***chart courtesy Gecko Software’s Track n’ Trade Pro</p><p>Past performance is not necessarily indicative of future results[/QUOTE]</p><p><br /></p>

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