Commodities snapshot (precious & industrial)

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

Gold:

• Gold is stabilizing around $1220 area. Today it is marginally higher as the dollar weakened. Today’s range $1231-1224
• We expect gold to reach $1520
• Gold is currently trading at $1230/troy ounce. Immediate support lies at $1250 and resistance at $1330 area.

Silver:

• Silver is the worst performer of the week. Today’s range $16.9-17.1
• 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 $17.01/troy ounce. Support lies at $16, & resistance at $20

Copper:

• Copper is struggling below $2.5, trying to form a base. Today’s range $2.43-2.48
• Copper is currently trading at $2.47/pound, immediate support lies at, $2.4 & resistance at  $2.86