Commodities snapshot (precious & industrial)

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

Gold:

• Gold is flirting with key support around $1230 area. After initial selloff, gold is up for the day as risk rally failed to get triggered despite Macron win in the French election. Today’s range $1235-1220
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1232/troy ounce. Immediate support lies at $1230, and resistance at $1290 area.

Silver:

• Silver is the best performer of the day. Today’s range $16.49-16.20
• Silver is currently trading at $16.35/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 is testing support around $2.5 area. Today’s range $2.55-2.49
• Copper is currently trading at $2.52/pound, immediate support lies at, $2.4 & resistance at  $2.7