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 - EconoTimes)
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Precious metals are treading water, while industrial remains weak. Performance this week at a glance in chart & table -
Gold -
- Gold is creeping up today. Today's range - $1190 - $1172
- Gold might reach $1152 area, since $1178 support got broken. Stop is around $1200.
- Focus is on FED next Wednesday.
- Gold is currently trading at $1189/troy ounce. Immediate support lies at $1152 and resistance at $1224, $1236-1240 area.
Silver -
- Silver has bounced back from $15.8 area.
- Mint ratio is down by 0.8% today, currently at 73.3. Mint ratio and precious metal prices are inversely related more often than not.
- FED is make or break event for silver as it tests key support.
- 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 has broken key support area at $2.65, further downside remains likely.
- Next target is around $2.52/ pound since support at $2.65 got broken.
- Copper is currently trading at $2.65/pound, immediate support lies at $2.5 & resistance at $2.725, $2.84, $2.89, $2.95.
|
Gold |
+0.68% |
|
Silver |
+1.65% |
|
Copper |
-1.30% |
