Commodities snapshot (precious & industrial)

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

Gold:

• Gold is down today, heading for its third weekly decline. Today’s range $1249-1255
• 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 $1251/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 $16.77-16.59
• Silver is currently trading at $16.66/troy ounce. Support lies at $16.8 & resistance at $18.2

Copper:

• Copper is up today as Chinese regulator encourages commodity investments. Today’s range $2.55-2.59
• Copper is currently trading at $2.58/pound, immediate support lies at, $2.4 & resistance at  $2.7