Commodities snapshot (precious & industrial)

Metals pack is trading with downside bias. Performance this week at a glance in chart & table -

Gold -

• Gold continue to tread water around $1170 area. Today's range $1179-1168.
• Gold might push down if dollar gains ground next week.
• Gold is currently trading at $1171/troy ounce. Immediate support lies at $1152 and resistance at $1224, $1236-1240 area.

Silver -

• Silver dropped sharply today, tested $15.5 support area intraday. Up sharply from there. Today's range $15.92-$15.5
• Mint ratio is up by 0.4% today, currently at 74.2. Mint ratio and precious metal prices are inversely related more often than not.
• Silver is currently trading at $15.79/troy ounce. Support lies at $15.42 & resistance at $17.5-17.7, 18.4-18.7.

Copper -

• Copper tested $2.65 area today. Today's range $2.65 - 2.61
• Copper is currently trading at $2.62/pound, immediate support lies at $2.5 & resistance at $2.75, $2.84, $2.89, $2.95.