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 - EconoTimes)
Metals lost grounds further as dollar strengthen today. Performance this week at a glance in chart & table -
Gold -
- Gold has broken below $1200 mark and further downside looks very likely.
- Bearish target is coming around $1154 area as $1224 area holds. $1178 stands as crucial support area.
- Gold is currently trading at $1188/troy ounce. Immediate support lies at $1200, $1178 and resistance at $1224, $1236-1240 area.
Silver -
- Silver dropped further as expected. Expect assault on $15.4 resistance once more.
- Mint ratio is up by 0.35% today, currently at 70.75. Mint ratio and precious metal prices are inversely related more often than not.
- Silver is currently trading at $16.8/troy ounce. Support lies at $16, $15.42 & resistance at $17.5-17.7, 18.4-18.7.
Copper -
- Copper lost grounds further as bears still remain in control. However support area is coming close. Partial profit booking is suggested.
- Bears remain in control in short term since $2.95 held strong.
- Copper is currently trading at $2.78/pound, immediate support lies at $2.76 & resistance at $2.84, $2.89, $2.95.
|
Gold |
-1.49% |
|
Silver |
-1.57% |
|
Copper |
-0.54% |
