Commodities snapshot (precious & industrial)

Metals pack is down today as dollar bounced back somewhat. Performance this week at a glance in chart & table -

Gold -

• Gold dropped sharply from $1200 area. Today's range $1201-1182.
• Optimism over Greek deal moved investors out of gold's safety.
• Gold is currently trading at $1184/troy ounce. Immediate support lies at $1172, $1152 and resistance at $1224, $1236-1240 area.

Silver -

• Silver remained buoyed despite gold's fall, today's range $16.27-16.03.
• Mint ratio is down by -1.45% today, currently at 73.3. Mint ratio and precious metal prices are inversely related more often than not. Mint ratio is suggesting further rise in precious metals.
• 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 is treading water today in small range. Today's range $2.59 - 2.56
• Next target is around $2.52/pound since support at $2.65 got broken. Profit booking suggested.
• Copper is currently trading at $2.57/pound, immediate support lies at $2.5 & resistance at $2.75, $2.84, $2.89, $2.95.