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Commodities snapshot (precious & industrial)

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

Gold:

  • Gold price is under pressure as the dollar recovers. Today’s range $1243-1230
  • 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 $1230/troy ounce. Immediate support lies at $1230, and resistance at $1275 area.

Silver:

  • Silver is down in line with gold. Today’s range $16.7-16.34
  • Silver is currently trading at $16.36/troy ounce. Support lies at $16.2 & resistance at $17.1

Copper:

  • Copper is testing resistance around $2.72 area. Today’s range $2.68-2.72
  • Copper is currently trading at $2.69/pound, immediate support lies at, $2.4 & resistance at  $2.7

 

Gold

 -0.89%

Silver

 -1.39%

Copper

 -0.55%

 

 

 

 

 

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