Metals cheered the demise of dollar post dovish comments from FOMC. However giving up some gains. Performance this week at a glance in chart & table - Gold - Gold traded as high as $1177/troy ounce but failing to hold ba…
Metals cheered the demise of dollar post dovish comments from FOMC. However giving up some gains. Performance this week at a glance in chart & table -
Gold - Gold traded as high as $1177/troy ounce but failing to hold back gains today amid stronger dollar. Gold might go for consolidation as both bulls and bears at levels remain at large. Gold is trading at $1169/troy ounce. Immediate support lies at 1144, 1132, 1040 & resistance at 1166, 1175, 1192.
Silver - Silver is the best performer this week. Pre FOMC it is still maintaining. Mint ratio is at 72.77, down 0.85% today. Further reduction may result in a rally in precious metal. Silver is currently trading at $16/troy ounce. Support lies at 14 & resistance at 16.6, 17.8.
Copper - Copper is still the worst performer this week but recovered ground after dollar weakened. Concerns over china, continue to weigh on prices. Price pattern suggests loss towards 2.47 levels should the resistance at $ 2.72 holds. Immediate support lies at 2.52 & resistance at 2.66.
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