Commodities snapshot (precious & industrial)

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

Gold:

• Gold is grinding higher on weaker dollar. Today’s range $1275-1289
• We expect gold to reach $1520
• Gold is currently trading at $1287/troy ounce. Immediate support lies at $1250 and resistance at $1330 area.

Silver:

• Silver is the best performer of the day. Today’s range $17.8-18.4
• 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 $18.28/troy ounce. Support lies at $16, & resistance at $20

Copper:

• Copper is up but the worst performer of the week.  Today’s range $2.2-2.18
• 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