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 - EconoTimes)
Metals continue to face headwinds despite weaker dollar today. Performance this week at a glance in chart & table -
- Gold - Gold is waiting for tomorrow's FOMC for further direction. Gold bulls have yet not given up on the support so tomorrow's event is once again a make or break one like last NFP. Gold is trading at $1152/troy ounce. Immediate support lies at 1144 & resistance at 1166.
- Silver - Silver, still a better performer over gold this week lacking momentum and volatility. Mint ratio is at 73.70, down 0.18% today. Prices might reach as low as $14/troy ounce as key level remains broken. Silver is currently trading at $15.6/troy ounce. Support lies at 14 & resistance at 16.6.
- Copper - Copper is the worst performer this week. Copper continued to face headwinds over slowdown in China. Copper is currently trading at $2.63/pound. Price pattern suggests loss towards 2.47 levels should the resistance at $ 2.72 holds. Immediate support lies at 2.59 & resistance at 2.72.
|
Gold |
-0.24% |
|
Silver |
0.40% |
|
Copper |
-1.46% |
