Commodities snapshot (precious & industrial)

Metals failed to gain today, in spite of weaker dollar. Performance this week at a glance in chart & table -

Gold -

• Gold trading almost flat, with bulls struggling to break $1200 level. Bears might take the pair downwards, should price fail to break the level.
  
• Today's weak ADP employment report failed to boost yellow metal, NFP report on Friday holds key.
  
• Gold is currently trading at $1195/troy ounce. Immediate support lies at $1178, $1160 and resistance at $1209, $1224 and $1236-1240 area.

Silver -

• Silver continuing its small range trading today, as advance is halted at key support. Downside bias remains intact as of now. However short position might risk volatility ahead of NFP report this week.
  
• Mint ratio is down -0.15%, currently at 71.9. Mint ratio and precious metal prices are inversely related more often than not.
  
  
• Silver is currently trading at $16.62/troy ounce, up 3.04% since last week, but gained only 0.05% in last two days. Support lies at $15.42, $14 & resistance at $16.3-$16.6, $17.5-17.7.

Copper -

• Copper has stalled today as key resistance continue to halt progress. Weaker dollar and ADP report failed to break the resistance.
  
• Bulls might be targeting $3.1-3.16 area. However $3 might provide psychological resistance.
  
  
• Copper is currently trading at $2.93/pound, immediate support lies at $2.86, $2.76 & resistance at $2.95, $3.07.