Commodities snapshot (precious & industrial)

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

Gold:

• Gold is down again today as the dollar recovers. Today’s range $1217-1241
• 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 $1222/troy ounce. Immediate support lies at $1210, and resistance at $1255 area.

Silver:

• Silver is the worst performer of the week. Today’s range $15.86-16.64
• Silver is currently trading at $16/troy ounce. Support lies at $15.6 & resistance at $16.5

Copper:

• Copper is the worst performer of the day. Today’s range $2.65-2.71
• Copper is currently trading at $2.66/pound, immediate support lies at, $2.4 & resistance at  $2.7

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