Commodities snapshot (precious & industrial)

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

Gold:

• Gold is up today, but sharply down this week as the dollar recovers on a hawkish Fed. Today’s range $1266-1252
• We expect the gold price to reach $1390 per troy ounce. In the short-term price is likely to decline to $1225 area.
• 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 $16.7-16.85
• Silver is currently trading at $16.78/troy ounce. Support lies at $16.8 & resistance at $18.2

Copper:

• Copper is struggling to move higher despite 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 $2.57/pound, immediate support lies at, $2.4 & resistance at  $2.7