Commodities snapshot (precious & industrial)

The metal pack is up today. The performance this week at a glance in the chart & table -

Gold:

• Gold is heading higher as USD weakens. Today’s range $1233-1241
• Gold is currently trading at $1237/troy ounce. Immediate support lies at $1195, and resistance at $1250 area.

Silver:

• Further decline likely as the silver breaks key support around $14.2 area. Up today on weaker USD. Today’s range $14.35-14.63
• Silver is currently trading at $14.49/troy ounce. Support lies at $14 & resistance at $16

Copper:

• Copper rose on Sino-American trade truce. Likely to decline further to test $2.5 area once the optimism fades. Today’s range $2.74-2.77
• Copper is currently trading at $2.77/pound, immediate support lies at, $2.55 & resistance at  $2.81

 

Gold	+1.23%
Silver	+2.48%
Copper	-0.79%