Commodities snapshot (precious & industrial)

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

Gold –

• Gold is down for ninth consecutive day. We expect Gold to test support around $1180 area. Today’s range $1213-1200
• Gold is currently trading at $1207/troy ounce. Immediate support lies at $1180 and resistance at $1350 area.

Silver –

• Silver is down sharply and trading below $16 support area. Today’s range $16.3 -15.9
• Active call – Buy Silver @ $16.7 with target around $19 and stop loss at $14.8
• Silver is currently trading at $16 /troy ounce. Support lies at $15.6, $16 & resistance at $17.2, $17.8, 18.4

Copper –

• Copper is down in line with precious metals. Today’s range $2.11-2.09
• Active call – Sell copper @2.06 and at rallies with targets around $1.75, $1.6/pound with stop loss around $2.3/pound
• Copper is currently trading at $2.1/pound, immediate support lies at, $2.03 & resistance at  $2.3, $2.21