Commodities snapshot (precious & industrial)

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

Gold:

• Gold is only marginally higher today, trying to form a base around $1300 area. Today’s range $1310-1323
• We expect gold to reach $1520
• Gold is currently trading at $1318/troy ounce. Immediate support lies at $1300 and resistance at $1395 area.

Silver:

• Silver is sharply worst performer of the week. Today’s range $19.2 -19.5
• 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 $19.38 /troy ounce. Support lies at $18, $19 & resistance at 22

Copper:

• Copper is best performer today and this week. Today’s range $2.24-2.27
• Active call – Sell copper @2.06 and at rallies with targets around $1.75, $1.6/pound with stop loss around $2.4/pound
• Copper is currently trading at $2.27/pound, immediate support lies at, $2.03 & resistance at  $2.3