Commodities snapshot (precious & industrial)

Metals are gaining today over weakness in Dollar. Performance this week at a glance in chart & table -

Gold -

• Gold faced selloff from around $1192 area. Today's range - $1189 - $1175
• Gold might reach $1152 area, since $1178 support got broken. Stop is around $1200.
• Gold is currently trading at $1179/troy ounce. Immediate support lies at $1152 and resistance at $1224, $1236-1240 area.

Silver -

• Silver is hovering around $16 but made lower low today. Today's range $16.1-$15.8.
• Mint ratio is down by 0.2% today, currently at 73.8. 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 faced heavy selloff today from $2.75 area as Chinese data failed to impress investors.
• Next target is around $2.52/ pound if support at $2.65 gets broken.
• Copper is currently trading at $2.68/pound, immediate support lies at $2.65 & resistance at $2.84, $2.89, $2.95.