Commodities snapshot (precious & industrial)

Precious pack gain back ground today, but industrial remained lacklustre. Performance this week at a glance in chart & table -

Gold -

• Gold tested $1100 mark, however struggling to hold gains as China slumps. Today's range - $1106-$1088.
• Gold is likely to trade with downside bias, however a sustained push below $1050 is unlikely
• Gold is currently trading at $1096/troy ounce. Immediate support lies at $1060 and resistance at $1120 area.

Silver -

• Silver is better performer than gold today as bears were halted at $14.5 area. Today's range $14.75-14.5
• Silver is currently trading at $14.67/troy ounce. Support lies at $14 & resistance at $16. $15 is likely to pose interim resistance.

Copper -

• Copper traded weaker as Chinese stock market suffered worst since 2008 crisis. Today's range $2.39-2.33.
• Next target is around $2.24.
• Copper is currently trading at $2.35/pound, immediate support lies at, $2.2 & resistance at $2.65.