BMO on the recent action in copper/gold:

"Concerns that China will continue to tighten lending and worries that European credit woes may grow are likely to keep the copper market under selling pressure throughout the week-an additional 5-10% correction is very much possible based on the charts. Any copper correction, however, should be somewhat short-lived, as the copper market is expected to be in a deficit in 2011. Gold should remain firm as investors hedge against sovereign debt risks. As such, copper-linked producers are also likely to show weakness, while gold miners should do relatively better."