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Commodities snapshot (precious & industrial)

Metals are lacklustre despite weakness in Dollar. Performance this week at a glance in chart & table -

Gold -

  • Gold faced selloff from around $1185 area. Today's range - $1185 - $1176
  • Gold might reach $1152 area, since $1178 support got broken. Stop is around $1200.
  • Focus is on FED next week.
  • Gold is currently trading at $1181/troy ounce. Immediate support lies at $1152 and resistance at $1224, $1236-1240 area.

Silver -

  • Silver has broken below $16 going to test resistance once more. Today's range $16.1-$15.8.
  • Mint ratio is down by 0.75% today, currently at 74.2. Mint ratio and precious metal prices are inversely related more often than not.
  • FED is make or break event for silver as it tests key support.
  • Silver is currently trading at $15.9/troy ounce. Support lies at $16, $15.42 & resistance at $17.5-17.7, 18.4-18.7.

Copper -

  • Copper failed to jump from key support today as it tested $2.65 intraday. FED could become make or break event for FED.
  • Next target is around $2.52/ pound if support at $2.65 gets broken.
  • Copper is currently trading at $2.68/pound, immediate support lies at $2.65 & resistance at $2.84, $2.89, $2.95.

Gold

+0.85%

Silver

-1.18%

Copper

 -0.59%

  • Market Data
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