Commodities snapshot (precious & industrial)

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

Gold:

• Gold is down further as the stronger dollar continues to weigh on the yellow metal.  Today’s range $1231-1224
• We expect gold to reach $1520. Gold might reach as low as $1155 in the near term.
• Gold is currently trading at $1211/troy ounce. Immediate support lies at $1190 and resistance at $1245 area.

Silver:

• Silver is the worst performer of the week. Today’s range $16.4-16.8
• Active call – Buy Silver @ $16.7 with a 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 $18.8

Copper:

• Copper continues to struggle below $2.5, trying to form a base. Today’s range $2.45-2.49
• Copper is currently trading at $2.48/pound, immediate support lies at, $2.4 & resistance at  $2.86