Commodities snapshot (precious & industrial)

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

Gold –

• Gold is marginally down today as equities drop provide support but strong Dollar is exceptionally strong and eroding strength.  Today’s range $1224-1211
• Gold is currently trading at $1221/troy ounce. Immediate support lies at $1180 and resistance at $1280 area.
• Active call – Buy gold @1200 area with stop around $1180 area and target around $1350 area.

Silver –

• Silver is marginally higher, contrasting with gold. Today’s range $15.35-15.1
• Silver is currently trading at $15.28/troy ounce. Support lies at $14.1 & resistance at $16

Copper –

• Copper is down today over stronger Dollar. Today’s range $2.25-2.21
• Longer term Call – Sell Copper targeting $1.75/pound but will sell higher.  In the short term - Copper target reached at $2.25, buy at correction below $2.2 targeting $2.45 area.
• Copper is currently trading at $2.22/pound, immediate support lies at, $2.12 & resistance at $2.26, $2.42