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Commodities snapshot (precious & industrial)

Metals as a pact continue to lose grounds against dollar though performance remained mixed. Performance this week at a glance in chart & table - Gold - Gold reached initial target of $1150/troy ounce in today's trading. …

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Commodities snapshot (precious & industrial)
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Metals as a pact continue to lose grounds against dollar though performance remained mixed. Performance this week at a glance in chart & table -

  • Gold - Gold reached initial target of $1150/troy ounce in today's trading. Gold traded as low as 1147 intraday. Prices can move to even $1040/troy ounce if key support is broken. Immediate support lies at 1144 & resistance at 1166.

  • Silver - Silver, fell more than gold in today's trading. Mint ratio is at 74.8, up 0.80% today. Prices might reach as low as $14/troy ounce as key level got broken in today's trading. Silver is currently trading at $15.4/troy ounce. Support lies at 14 & resistance at 16.6.

  • Copper - Copper is rolling back gains made over last week and feeling further pressure in today's trading as data revealed continued slowing in China. Industrial production grew by 6.8% in January compared to previous 7.9%. Retails sales grew at 10.7% compared to previous 11.9%. Copper is trading at $2.61/pound. Price pattern suggests loss towards 2.47 levels should the resistance hold. Immediate support lies at 2.57 & resistance at 2.67.

Gold

-1.29%

Silver

-3.53%

Copper

0.19%

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