Commodities snapshot (precious & industrial)

Metals are trading in red today. Performance this week at a glance in chart & table -

Gold -

• Gold dropped sharply after facing resistance around $1160 area. Stronger dollar today, pushed prices down Today's range - $1157-$1143
• Gold is likely to drop towards $1100.
• Gold is currently trading at $1145/troy ounce. Immediate support lies at $1150 and resistance at $1173, $1190 area.

Silver -

• Silver dropped to $15 area after facing resistance around $15.7 area. Today's range $15.4-15
• Silver is likely to drop as low as $14
• Silver is currently trading at $15.07/troy ounce. Support lies at $14 & resistance at $16

Copper -

• Copper is relatively better performer today, might give larger upside correction if support around $2.5 holds. Today's range $2.57-2.51
• Next target is around $2.24, however bounce back might stretch towards $2.7/mmbtu.
• Copper is currently trading at $2.52/pound, immediate support lies at $2.5, $2.2 & resistance at $2.65.