Commodities snapshot (precious & industrial)

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

Gold:

• Gold is marginally higher today after a big run on Friday’s payroll report. Today’s range $1278-1282
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1280/troy ounce. Immediate support lies at $1230, and resistance at $1290 area.

Silver:

• Silver is down today, in contrast with gold. Today’s range $17.11-17.46
• Silver is currently trading at $17.38/troy ounce. Support lies at $16 & resistance at $17

Copper:

• Copper remain dogged by growth concern and increased supplies. Today’s range $2.54-2.58
• Copper is currently trading at $2.54/pound, immediate support lies at, $2.4 & resistance at  $2.7