Commodities snapshot (precious & industrial)

Metals performance is lacklustre despite weaker dollar. Performance this week at a glance in chart & table -

Gold -

• Gold is up today, but dropped sharply below $1200 mark yesterday. Likely to consolidate ahead of NFP report.
• Gold might reach $1252 area, if $1224 area gets broken and risks trading as low as $1152 if $1178 support gets broken.
• Gold is currently trading at $1193/troy ounce. Immediate support lies at $1178 and resistance at $1224, $1236-1240 area.

Silver -

• Silver wasn't able to hold on to gains above $17 mark, dropped sharply yesterday. However weaker dollar is providing some support.
• Mint ratio is up by -0.17% today, currently at 71.1. Mint ratio and precious metal prices are inversely related more often than not.
• Silver is currently trading at $16.78/troy ounce. Support lies at $16, $15.42 & resistance at $17.5-17.7, 18.4-18.7.

Copper -

• Copper bounced back amid weaker dollar, but risks falling further.
• Bears are likely to retain control, unless $2.95 breaks.
• Copper is currently trading at $2.74/pound, immediate support lies at $2.65 & resistance at $2.84, $2.89, $2.95.