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 has jumped from $1180 area however struggling to move gain over $1200.
  
• Bulls and Bears both lacking directional bias, taking cues from broad based dollar strength.
  
• Gold is currently trading at $1195, up 0.1% today. Immediate support lies at $1178, $1160 and resistance at $1224 and $1236-1240 area.

Silver -

• Silver once again under pressure today, as bears tried to break $16 area. However bulls taken over as dollar weakened over ECB press conference.
  
• Mint ratio flat today, currently at 73.7. Mint ratio and precious metal prices are inversely related more often than not.
  
  
• Silver is currently trading at $16.2/troy ounce, up 0.1% 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 and price moved to new low today.
  
• Bears now might push further towards $2.52-$2.47 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 $2.69/pound, immediate support lies at $2.59 & resistance at $2.83, 2.93, and 3.07.