Commodities snapshot (precious & industrial)

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

Gold:

• Gold is trying to gain from a base above $1150.  Today’s range $1165-1174
• We expect gold to reach $1520. Gold might reach as low as $1155 in the near term.
• Gold is currently trading at $1173/troy ounce. Immediate support lies at $1150, and resistance at $1225 area.

Silver:

• Silver is relatively better performer than gold this week as it finds support around key $16 area. Today’s range $16.64-16.84
• Silver is currently trading at $16.79/troy ounce. Support lies at $16, & resistance at $17.8

Copper:

• Copper is struggling at previous peak around $2.7 area, further rise can’t be ruled out. Today’s range $2.65-2.71
• Copper is currently trading at $2.69/pound, immediate support lies at, $2.4 & resistance at  $2.86