Commodities snapshot (precious & industrial)

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

Gold:

• Gold is down again as strong dollar continues to weigh. Today’s range $1251-1265
• We expect gold to reach $1520
• Gold is currently trading at $1223/troy ounce. Immediate support lies at $1250 and resistance at $1330 area.

Silver:

• Silver is much worse performer than gold. Today’s range $18.35-18.88
• 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 $17.18/troy ounce. Support lies at $16, & resistance at $20

Copper:

• Copper is bouncing back today after large correction. Today’s range $2.5-2.6
• Copper is currently trading at $2.53/pound, immediate support lies at, $2.4 & resistance at  $2.86