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, s…
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.
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