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 - EconoTimes)
Metals are trading in low volatility as key markets are closed today. Performance this week at a glance in chart & table -
Gold -
- In spite of large gains in US dollar, gold has been able to hold on above $1200.
- Bulls and bears are broadly in balance with bulls targeting $1252 and bears $1154.
- Gold is currently trading at $1205/troy ounce. Immediate support lies at $1200, $1178 and resistance at $1224, $1236-1240 area.
Silver -
- Silver's strength waned on the final day last week. Short side remains open as price has failed to clear resistance area near $17.5.
- Mint ratio is flat 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 clawing some ground back over profit, after last week's massive selloffs.
- Bears remain in control in short term since $2.95 held strong.
- Copper is currently trading at $2.82/pound, immediate support lies at $2.76 & resistance at $2.95, $3.07. $2.89 would provide interim resistance.
|
Gold |
-0.08% |
|
Silver |
+0.19% |
|
Copper |
+0.89% |
