wmeubank@ocp.kcmo.com
THE WINDY CITY TRADER
P.O. Box 673,
Chicago, Illinois
(June 10, 1997) METALS: Precious metals have been very quiet. July
silver stays between $4.60 and $4.90. There is nothing on the
horizon to suggest that this pattern will not continue. It's
possible that a trade to $4.95 could push prices to $5.24. The
August gold broke support at $342 and proceeded to rally back to
$348 by the next day. It's new contract low during February to $345
was followed by a rally to $370. The new contract low to $3.42 in
April was followed by a rally to $355. A move to $355 looks
possible over the short term. Higher interest rate talk continues
to hamper the long-term prognosis here.
Stephen Connell and William Frejlich
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