Metal pack is mixed today. Performance this week at a glance in chart & table -
Gold:
- Gold is higher this week as Fed kept rates on hold and found support around $1300 area. Today’s range $1328-1348
- We expect gold to reach $1520
- Gold is currently trading at $1346/troy ounce. Immediate support lies at $1300 and resistance at $1395 area.
Silver:
- Silver is marginally higher today, best performer this week. Today’s range $20.33-19.94
- Active call – Buy Silver @ $16.7 with target around $19 and stop loss at $14.8. Target extended to $26
- Silver is currently trading at $20.28 /troy ounce. Support lies at $18, $19 & resistance at $20.7, $22, $26
Copper:
- Copper is flat today, worst performer of the week. Today’s range $2.23-2.18
- Active call – Sell copper @2.06 and at rallies with targets around $1.75, $1.6/pound with stop loss around $2.4/pound
- Copper is currently trading at $2.21/pound, immediate support lies at, $2.03 & resistance at $2.3
Gold |
+1.82% |
Silver |
+3.42% |
Copper |
-1.43% |