Commodities snapshot (precious & industrial)

Metals are the weak in spite of dollar weakness. Performance this week at a glance in chart & table -

Gold -

• Gold is up from Friday's low, still below $1178 level. Today's range $1177-1169.
• Gold might reach $1152 area, since $1178 support got broken.
• Gold is currently trading at $1171/troy ounce. Immediate support lies at $1147 and resistance at $1200, $1236-1240 area.

Silver -

• Silver is hovering at $16. Today's range $16.2-$15.98.
• Mint ratio is up by 0.4% today, currently at 73. Mint ratio and precious metal prices are inversely related more often than not.
• Silver is currently trading at $16/troy ounce. Support lies at $16, $15.42 & resistance at $17.5-17.7, 18.4-18.7.

Copper -

• Copper is hovering close to support level awaiting next cues. Partial profit booking is suggested. 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.