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Commodities snapshot (precious & industrial)

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

Gold:

  • Gold is up today over weaker USD. Remains upbeat on risk aversion. Today’s range $1235-1243
  • Gold is currently trading at $1242/troy ounce. Immediate support lies at $1195, and resistance at $1250 area.

Silver:

  • Further decline likely as the silver breaks key support around $14.2 area. Up today on weaker USD. Today’s range $14.70-14.41
  • Silver is currently trading at $14.61/troy ounce. Support lies at $14 & resistance at $16

Copper:

  • Copper remains upbeat as trade deal optimism returns with China reducing tariffs on imported cars. Likely to decline further to test $2.5 area once the optimism fades. Today’s range $2.76-2.71
  • Copper is currently trading at $2.73/pound, immediate support lies at, $2.55 & resistance at  $2.81

 

Gold

 +0.31%

Silver

 +0.52%

Copper

  -0.73%

 

 

 

 

 

 

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