Commodities snapshot (precious & industrial)

Metal pack is red today. Performance this week at a glance in chart & table -

Gold –

• Gold is down today as risk aversion fades.  Today’s range $1218-1232
• Gold can drop towards $1130 area, if it fails to break higher at least above $1250 area.
• Gold is currently trading at $1219/troy ounce. Immediate support lies at $1180 and resistance at $1280 area.

Silver –

• Silver is down in line with gold today. Today’s range $15.19-14.95
• Silver is currently trading at $15/troy ounce. Support lies at $14.1 & resistance at $16

Copper –

• Copper is down in eight out of last 10 trading days. Today’s range $2.13-2.16
• Longer term Call – Sell Copper targeting $1.75/pound but will sell higher.  Copper selloffs may intensify and price might test $2 area once more in the near term.
• Copper is currently trading at $2.14/pound, immediate support lies at, $2.12 & resistance at $2.26, $2.42