Commodities snapshot (precious & industrial)

Metals' performance are mixed in today's trading, sellers broadly remain in control. Performance this week at a glance in chart & table -

Gold -

• Gold fell towards $1183, after it failed to maintain gains above $1200. However bounced over weaker dollar since US retail sales data.
  
• Traders lacking conviction over direction. Price might continue consolidation.
  
• Gold is currently trading at $1198, down 0.1% today. Immediate support lies at $1178, $1160 and resistance at $1224 and $1236-1240 area.

Silver -

• Silver is best performer today, as prices bounced back touching $15.97.
  
• Mint ratio dropped today by -0.45%, currently at 73.3. Mint ratio and precious metal prices are inversely related more often than not.
  
  
• Silver is currently trading at $16.34/troy ounce, up 0.5% today. Downtrend remains intact despite bounce back. Support lies at 15.42,14 & resistance at 17.5-17.7.

Copper -

• Copper is the worst performer this week as price broke range of $2.71-$2.78. Weak Chinese data weighing on copper.
  
• Bears now might push further towards $2.52 area.
  
  
• Bearish inverted hammer remains in play in weekly chart. Moreover last week price pattern produced another bearish doji. More encouraging for the bears.
  
  
• Copper is currently trading at
  $2.71/pound, bounced back from $2.68/pound level over lower than expected retail sales. Immediate support lies at 2.59 & resistance at 2.83, 2.93, and 3.07.