Commodities snapshot (precious & industrial)

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

Gold:

• Gold is recovering as the dollar declines. Likely to find sellers around $1245 area. Today’s range $1243-1235
• In the short-term price is likely to decline to $1190 area.
• Gold is currently trading at $1242/troy ounce. Immediate support lies at $1190, and resistance at $1245 area.

Silver:

• Silver is the best performer of the week. Today’s range $16.14-16.35
• Silver is currently trading at $16.30/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 $2.71-2.74
• Copper is currently trading at $2.73/pound, immediate support lies at, $2.55 & resistance at  $2.7

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