Commodities snapshot (precious & industrial)

Metal pack is down on stronger Dollar today. Performance this week at a glance in chart & table -

Gold –

• Gold gave up gains but more likely to consolidate around key support area of $1200. Today’s range $1239-1225
• Gold is currently trading at $1231/troy ounce. Immediate support lies at $1180 and resistance at $1280 area.
• Active call – Buy gold @1200 area with stop around $1180 area and target around $1350 area.

Silver –

• Silver is down in line with gold. Today’s range $15.42-15.17
• Silver is currently trading at $15.24/troy ounce. Support lies at $14.1 & resistance at $16

Copper –

• Copper is trading flat this week so far. Today’s range $2.21-2.25
• Longer term Call – Sell Copper targeting $1.75/pound.  In the short term - Copper target reached at $2.25, buy at correction below $2.2 targeting $2.45 area.
• Copper is currently trading at $2.23/pound, immediate support lies at, $2.12 & resistance at $2.26