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 but down from its recent peak as geo-political tensions subside. Today’s range $1265-1270
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1268/troy ounce. Immediate support lies at $1250, and resistance at $1290 area.

Silver:

• Silver is down today, contrasting with gold. Today’s range $17.29-17.08
• Silver is currently trading at $17.11/troy ounce. Support lies at $16.8 & resistance at $18.2

Copper:

• Copper has broken an important short-term down trend.  Today’s range $2.62-2.65
• Copper is currently trading at $2.63/pound, immediate support lies at, $2.4 & resistance at  $2.7