Metals performance remained mixed. Performance this week at a glance in chart & table - Gold - Gold failed to gain on weaker dollar as sellers continue to appear at rallies. Gold reached initial target of $1150/troy ounc…
Metals performance remained mixed. Performance this week at a glance in chart & table -
Gold - Gold failed to gain on weaker dollar as sellers continue to appear at rallies. Gold reached initial target of $1150/troy ounce but losses could exacerbate to even $1040/troy ounce if key support is broken. Immediate support lies at 1144 & resistance at 1166.
Silver - Silver, performed better than gold in today's trading. Mint ratio is at 74.1, down 0.50% today. Prices might reach as low as $14/troy ounce as key level remains broken. Silver is currently trading at $15.5/troy ounce. Support lies at 14 & resistance at 16.6.
Copper - Copper is the best performer so far the week and today. Price gained further over weak dollar. Looks like selling pressure is weakening and copper may test the resistance at 2.72. Price pattern suggests loss towards 2.47 levels should the resistance hold. Immediate support lies at 2.59 & resistance at 2.67.
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