Metals are having another dull day. Performance this week at a glance in chart & table - Gold - Gold is relatively stronger today, in spite of stronger dollar. Currencies seem to have taken the hit. Gold traded as high a…
Metals are having another dull day. Performance this week at a glance in chart & table -
Gold -
Gold is relatively stronger today, in spite of stronger dollar. Currencies seem to have taken the hit. Gold traded as high as $1215, while $1201 area provided support
Focus is on speech by Janet Yellen at 17:30 GMT.
Gold is currently trading at $1205/troy ounce. Immediate support lies at $1200, $1178 and resistance at $1224, $1236-1240 area.
Silver -
Silver made a high of $17.36 as high and $16.9 as low. Upside potential still remains if Support at $15.4 holds.
Mint ratio is up 0.25 % today, currently at 70.4. Mint ratio and precious metal prices are inversely related more often than not.
Silver is currently trading at $17.1/troy ounce. Support lies at $16, $15.42 & resistance at $17.5-17.7, 18.4-18.7.
Copper -
Copper dropped further amid stronger dollar today. Further downside or consolidation is likely.
Bears remain in control in short term since $2.95 held strong.
Copper is currently trading at $2.80/pound, immediate support lies at $2.76 & resistance at $2.95, $3.07. $2.89 would provide interim resistance.
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