Commodity as a segment remained underperformer among asset classes. Performance this week at a glance in chart & table - Gold - The outlook for Gold remain mixed. Political uncertainties, growing jewelry demand and repat…
Commodity as a segment remained underperformer among asset classes. Performance this week at a glance in chart & table -
Gold - The outlook for Gold remain mixed. Political uncertainties, growing jewelry demand and repatriation by central banks will provide bullish support but still an environment of falling inflation weigh on the price. Gold is currently trading at $1199/troy ounce. Immediate support lies at 1190 & resistance at 1210. Janet Yellen's comments could provide further direction.
Silver - Silver remains the same fundamental as gold except the extra volatility associated has so far kept it a less preferred commodity. It's currently at $16.36/troy ounce. Support lies at 15.5 & resistance at 17.2.
Copper - The outlook for copper remains clouded amid a slowdown in china. The red metal is falling amid a supply side growth that is here to persist. The copper is trading at $ 2.61/pound. Immediate support lies at 2.53 & resistance at 2.65.
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