Commodities snapshot (precious & industrial)

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

Gold:

• Gold is marginally recovering as the dollar declines. The focus is on Yellen testimony. Today’s range $1224-1216
• In the short-term price is likely to decline to $1190 area.
• Gold is currently trading at $1220/troy ounce. Immediate support lies at $1190, and resistance at $1245 area.

Silver:

• Silver is recovered in line with the gold and is the best performer of this week. Today’s range $16.01-15.85
• Silver is currently trading at $15.90/troy ounce. Support lies at $14.8 & resistance at $16

Copper:

• Copper is heading for another test of key resistance around $2.7 area. Today’s range $2.69-2.67
• Copper is currently trading at $2.69/pound, immediate support lies at, $2.55 & resistance at  $2.7

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest