Commodities snapshot (precious & industrial)

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

Gold –

• Gold is likely to gain further from here, finding support around $1230 area.  Today’s range $1271-1254
• Gold is currently trading at $1265/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 up in line with gold. Tested key resistance today. Today’s range $15.51-16.1
• Silver is currently trading at $15.98/troy ounce. Support lies at $14.1 & resistance at $16

Copper –

• Copper is flat for today. Today’s range $2.25-2.30
• Longer term Call – Sell Copper targeting $1.75/pound but will sell higher.  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 $2.28/pound, immediate support lies at, $2.12 & resistance at $2.26, $2.42