Commodities snapshot (precious & industrial)

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

Gold:

• Gold is marginally higher after another test of $1300 support area. Today’s range $1309-1318
• We expect gold to reach $1520
• Gold is currently trading at $1314/troy ounce. Immediate support lies at $1300 and resistance at $1395 area.

Silver:

• Silver is the best performer of the day. Today’s range $19.2-18.73
• 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 $19.11/troy ounce. Support lies at $18, & resistance at $19, $20.7, $22

Copper:

• Copper is the down today after super performance last week. Today’s range $2.14-2.16
• 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 $2.15/pound, immediate support lies at, $2.03 & resistance at  $2.3