Commodities snapshot (precious & industrial)

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

Gold:

• Gold is marginally down today as the dollar recovered.  Today’s range $1195-1184
• We expect gold to reach $1520. Gold might reach as low as $1155 in the near term.
• Gold is currently trading at $1186/troy ounce. Immediate support lies at $1150, and resistance at $1225 area.

Silver:

• Silver is much better performer than gold this week. Today’s range $16.57-16.8
• Silver is currently trading at $16.69/troy ounce. Support lies at $16, & resistance at $17.8

Copper:

• Copper is struggling at previous peak around $2.7 area. Today’s range $2.6-2.68
• Copper is currently trading at $2.62/pound, immediate support lies at, $2.4 & resistance at  $2.86