Gold – now moving down off the the 1432 high. have met the first target of 1354. the next target down is 1310.
But for now the the trade pressures are showing over sold and the time pressures are near the end of the down move.
a new retracement move up from 1369 could take gold to 1415.

Copper – remains in the move up from 4.23 and had reached the first target of 4.45.  now in a retracement move down from 4.41 to 4.11. a move below 4.05 will void the longer cycle move up.  both trade and time pressures are down thru late January 2010.
http://www.zerohedge.com/article/founder-brook-hunt-sees-copper-peeaking-near-term-plunging-forgotten-levels-1500-2016

SLW –  the silver proxy.  SLW had made the move from 30.52 to the target of 42.37.
then began the consolidation down to 39.30.
a move up thru 38.45 triggered more upside which stalled and began a second leg down to the current target of 33.09.
both time and trade pressures are fully over sold so the next move is likely up.
a trade thru 35.83 will start a move to 44.60.  resistance will manifest at 40.17 and the prior high of 42.34.

the Zero hedge article postulates a sharp selloff in copper, it would seem that would spill over into the other metals markets thru margin calls and profit taking.