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 trad…
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.
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