Commodities snapshot (precious & industrial)

Metals are the worst performer today. Performance this week at a glance in chart & table -

Gold -

• Gold broke below key support today, ahead of NFP Today's range $1186-1173. Gold is still breaking into new lows.
• Gold might reach $1252 area, since $1178 support got broken.
• Gold is currently trading at $1173/troy ounce. Immediate support lies at $1178 and resistance at $1224, $1236-1240 area.

Silver -

• Silver broke into new low, however still above key support at $16. Today's range $16.6-$16.1.
• Mint ratio is up by 1.1% today, currently at 72.5. Mint ratio and precious metal prices are inversely related more often than not.
• Silver is currently trading at $16.2/troy ounce. Support lies at $16, $15.42 & resistance at $17.5-17.7, 18.4-18.7.

Copper -

• Copper broke into new low below $2.7 mark, crucial support approaches. Partial profit booking suggested near the level. Next target is around $2.5, if support gets cleared.
• Bears are likely to retain control, unless $2.95 breaks.
• Copper is currently trading at $2.69/pound, immediate support lies at $2.65 & resistance at $2.84, $2.89, $2.95.