Metals are trying to defend grounds and hold back further losses amid a stronger dollar on the board wand weakening of global demand. Performance this week at a glance in chart & table - Gold - Gold bulls are not giving …
Metals are trying to defend grounds and hold back further losses amid a stronger dollar on the board wand weakening of global demand. Performance this week at a glance in chart & table -
Gold - Gold bulls are not giving up easily and look like if succeeded this 1200 mark is going to be a very important level. Gold did well after the press conference by Mario Draghi of ECB. Gold is currently trading at $1208/troy ounce, up 0.45% for the day. Immediate support lies at 1190 & resistance at 1224.
Silver - Silver, the worst performer of the week so far, gained back amid the press conference by Mario Draghi. Trading in a very narrow range today 16.1 and 16.37 so far today. Silver is currently trading at $16.3/troy ounce, up by 0.57% for the day. Support lies at 15.5 & resistance at 17.6.
Copper - Copper is treading water after taking support at 2.65 levels. Today Chinese cut of Growth forecast has not pushed the metal to bearish ground. Copper could be brewing for short term comeback. The copper is trading at $ 2.66/pound. Immediate support lies at 2.62 & resistance at 2.76.
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