Commodities snapshot (precious & industrial)

Metals are trading in red post FOMC. Performance this week at a glance in chart & table -

Gold -

• Gold was rejected at $1100 mark however finding bids around $1080 mark. Today's range - $1098-$1082.
• Gold is likely to trade with downside bias, however a sustained push below $1050 is unlikely
• Gold is currently trading at $1089/troy ounce. Immediate support lies at $1060 and resistance at $1120 area.

Silver -

• Silver is better performer than gold this week, but downside bias persists. Today's range $14.86-14.62
• Silver is currently trading at $14.75/troy ounce. Support lies at $14 & resistance at $16. $15 is likely to pose interim resistance, whereas $14.5 remains interim support.

Copper -

• Copper dropped again today, as Chinese market fell despite government intervention. Today's range $2.42-2.35.
• Next target is around $2.24, however correction might be larger.
• Copper is currently trading at $2.38/pound, immediate support lies at, $2.2 & resistance at $2.65.