Commodities snapshot (precious & industrial)

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

Gold:

• Gold has declined below key support around $1230 area. Today’s range $1241-1225
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1226/troy ounce. Immediate support lies at $1230, and resistance at $1290 area.

Silver:

• Silver is the worst performer of the week. Today’s range $16.66-16.22
• Silver is currently trading at $16.25/troy ounce. Support lies at $16.4, & resistance at $17.5

Copper:

• Active call - Copper is likely to rise towards $3.2 per pound. Copper declined further towards $2.5 area. Today’s range $2.55-2.49
• Copper is currently trading at $2.5/pound, immediate support lies at, $2.4 & resistance at  $2.7