Commodities snapshot (precious & industrial)

The metal pack is down today. Performance this week at a glance in chart & table -

Gold:

• Gold continuing its slide due to lack of demand over risk-on sentiment. Today’s range $1252-1259
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1252/troy ounce. Immediate support lies at $1230, and resistance at $1290 area.

Silver:

• Silver is the worst performer of the week. Today’s range $16.28-17.14
• Silver is currently trading at $16.85/troy ounce. Support lies at $17, & resistance at $18

Copper:

• Active call - Copper is likely to rise towards $3.2 per pound. Copper is testing support around $2.6 area, trying to form a base. Today’s range $2.62-2.66
• Copper is currently trading at $2.63/pound, immediate support lies at, $2.4 & resistance at  $2.7