Commodities snapshot (precious & industrial)

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

Gold:

• Gold is marginally higher today. Today’s range $1231-1220
• We expect gold to reach $1520
• Gold is currently trading at $1224/troy ounce. Immediate support lies at $1250 and resistance at $1330 area.

Silver:

• Silver is much worse performer than gold. Today’s range $16.84-17.13
• 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 $16.88/troy ounce. Support lies at $16, & resistance at $20

Copper:

• Copper is going for a large correction. Today’s range $2.57-2.42
• Copper is currently trading at $2.46/pound, immediate support lies at, $2.4 & resistance at  $2.86