Commodities snapshot (precious & industrial)

Metal pack is down today. Performance this week at a glance in chart & table -

Gold:

• As expected the gold price is struggling in the resistance zone that ranges from $1195 to $1206 but the weakness in the dollar is supporting the yellow metal. Today’s range $1208-1219
• Gold is currently trading at $1212/troy ounce. Immediate support lies at $1150, and resistance at $1225, $1285 area.

Silver:

• Silver is higher in line with gold on weaker dollar; the rally likely to remain below $17.2 and definitely below $18. It is worse performer than gold this week. Today’s range $17.05-17.24
• Silver is currently trading at $17/troy ounce. Support lies at $16, & resistance at $17.8

Copper:

• Copper is the best performer today as strike threatens production in Chile. Today’s range $2.61-2.67
• Active call – Sell copper targeting $2.15 per pound   
• Copper is currently trading at $2.64/pound, immediate support lies at, $2.4 & resistance at  $2.86