Metals continue to face headwinds despite weaker dollar today. Performance this week at a glance in chart & table - Gold - Gold is waiting for tomorrow's FOMC for further direction. Gold bulls have yet not given up on th…
Metals continue to face headwinds despite weaker dollar today. Performance this week at a glance in chart & table -
Gold - Gold is waiting for tomorrow's FOMC for further direction. Gold bulls have yet not given up on the support so tomorrow's event is once again a make or break one like last NFP. Gold is trading at $1152/troy ounce. Immediate support lies at 1144 & resistance at 1166.
Silver - Silver, still a better performer over gold this week lacking momentum and volatility. Mint ratio is at 73.70, down 0.18% today. Prices might reach as low as $14/troy ounce as key level remains broken. Silver is currently trading at $15.6/troy ounce. Support lies at 14 & resistance at 16.6.
Copper - Copper is the worst performer this week. Copper continued to face headwinds over slowdown in China. Copper is currently trading at $2.63/pound. Price pattern suggests loss towards 2.47 levels should the resistance at $ 2.72 holds. Immediate support lies at 2.59 & resistance at 2.72.
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