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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.
|
Gold |
-1.54% |
|
Silver |
-2.15% |
|
Copper |
-4.34% |
