Commodities snapshot (precious & industrial)

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

Gold:

• Gold is higher today riding on weak dollar. Today’s range $1327-1344
• We expect gold to reach $1520
• Gold is currently trading at $1342/troy ounce. Immediate support lies at $1300 and resistance at $1395 area.

Silver:

• Silver is up in line with gold. Today’s range $19.87 -20.5
• Active call – Buy Silver @ $16.7 with target around $19 and stop loss at $14.8. Target extended to $26
• Silver is currently trading at $20.35 /troy ounce. Support lies at $15.6, $16 & resistance at 18.4

Copper:

• Copper is the best performer today and this week. Today’s range $2.2-2.27
• Active call – Sell copper @2.06 and at rallies with targets around $1.75, $1.6/pound with stop loss around $2.3/pound
• Copper is currently trading at $2.25/pound, immediate support lies at, $2.03 & resistance at  $2.3, $2.21