Commodities snapshot (precious & industrial)

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

Gold -

• Gold dropped further as FED chair Janet Yellen sounded less dovish in semiannual testimony, pushing dollar higher. Today's range - $1148-$1142
• Gold is likely to drop towards $1100.
• Gold is currently trading at $1144/troy ounce. Immediate support lies at $1125 and resistance at $1173, $1190 area.

Silver -

• Silver dropped further below to $15, likely to drop further. Today's range $15.1-14.9
• Silver is likely to drop as low as $14
• Silver is currently trading at $15/troy ounce. Support lies at $14 & resistance at $16

Copper -

• Copper is trading in relatively low volatility today. Larger upside correction is possible if support around $2.5 holds. Today's range $2.54-2.51
• 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.