Commodities snapshot (precious & industrial)

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

Gold:

• Gold is sharply down as the dollar recovers on a hawkish Fed. Today’s range $1266-1252
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1255/troy ounce. Immediate support lies at $1250, and resistance at $1290 area.

Silver:

• Silver is down more than 2 percent so far this week. Today’s range $17.11-16.63
• Silver is currently trading at $16.94/troy ounce. Support lies at $16.8 & resistance at $18.2

Copper:

• Copper failed to move higher after a break of a major bearish trend line. It is flat for the day. Today’s range $2.53-2.58
• Copper is currently trading at $2.56/pound, immediate support lies at, $2.4 & resistance at  $2.7