Commodities snapshot (precious & industrial)

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

Gold:

• Gold remains weak due to lack of demand over risk-on sentiment. Today’s range $1271-1261
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1263/troy ounce. Immediate support lies at $1230, and resistance at $1290 area.

Silver:

• Silver is down in line with the gold. Today’s range $17.32-17.04
• Silver is currently trading at $17.11/troy ounce. Support lies at $17, & resistance at $18

Copper:

• Active call - Copper is likely to rise towards $3.2 per pound. Copper is down today after a rise last week. Today’s range $2.61-2.59
• Copper is currently trading at $2.59/pound, immediate support lies at, $2.4 & resistance at  $2.7