Commodities snapshot (precious & industrial)

The metal pack is mixed today. Performance this week at a glance in chart & table -

Gold:

• Gold is grinding lower, despite a weaker dollar as the geopolitical tensions ease. Today’s range $1277-1282
• We expect the gold price to reach $1365 per troy ounce.
• Gold is currently trading at $1279/troy ounce. Immediate support lies at $1230, and resistance at $1290 area.

Silver:

• Silver is the worst performer of the year. Today’s range $18.09-18.26
• Silver is currently trading at $18.18/troy ounce. Support lies at $17.5, & resistance at $18.6

Copper:

• Active call - Copper is likely to rise towards $3.2 per pound. Copper is struggling; the selling pressure remains as doubts emerge over Trump’s infrastructure plans. Today’s range $2.5-2.55
• Copper is currently trading at $2.54/pound, immediate support lies at, $2.4 & resistance at  $2.7