Commodities snapshot (precious & industrial)

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

Gold:

• Gold is down today as it clearly lacks the next driving force to take it over $1400 area. Today’s range $1312-1319
• We expect gold to reach $1520
• Gold is currently trading at $1315/troy ounce. Immediate support lies at $1300 and resistance at $1395 area.

Silver:

• Silver is down today, in line with gold. Today’s range $19-19.34
• Active call – Buy Silver @ $16.7 with a target around $19 and a stop loss at $14.8. Target extended to $26
• Silver is currently trading at $19.05/troy ounce. Support lies at $18, & resistance at $20.7, $22

Copper:

• Copper is the worst performer of the day.  Today’s range $2.18-2.22
• 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 $2.18/pound, immediate support lies at, $2.03 & resistance at  $2.3