Commodities snapshot (precious & industrial)

Metals are down sharply today. Performance this week at a glance in chart & table -

Gold -

• Gold is sharply down today as concern over China is hitting the market hard. Today's range - $1170-$1147
• Gold is currently trading at $1152/troy ounce. Immediate support lies at $1152 and resistance at $1224, $1236-1240 area.

Silver -

• Silver broken below $15.4 support area amid commodity rout due to China stock crash.
• Silver traded as low as $14.65.
• Silver is currently trading at $14.97/troy ounce. Support lies at $15.42 & resistance at $17.5-17.7, 18.4-18.7.

Copper -

• Copper dropped sharply as expected. Today's range $2.54-2.38
• Keep holding onto copper short, partial profit booking suggested as second target around $2.41 got hit. Next target is around $2.24.
• Copper is currently trading at $2.4/pound, immediate support lies at $2.2 & resistance at $2.65.