Commodities snapshot (precious & industrial)

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

Gold:

• Gold is continuing to hover around key resistance at $1300. Today’s range $1294-1307
• We expect gold to reach $1520
• Gold is currently trading at $1305/troy ounce. Immediate support lies at $1250 and resistance at $1330 area.

Silver:

• Silver is likely to face increased volatility. Today’s range $18.17-18.48
• 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 $18.19/troy ounce. Support lies at $16, & resistance at $20

Copper:

• Copper is closing in for another test of key resistance at $2.3.  Today’s range $2.23-2.25
• 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 $2.25/pound, immediate support lies at, $2.03 & resistance at  $2.3