Commodities snapshot (precious & industrial)

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

Gold:

• Gold is up today on weaker dollar.  Today’s range $1217-1205
• We expect gold to reach $1520. Gold might reach as low as $1155 in the near term.
• Gold is currently trading at $1216/troy ounce. Immediate support lies at $1190 and resistance at $1245 area.

Silver:

• Silver is testing key supports above $16 area. Today’s range $16.5-16.8
• 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 $16.7/troy ounce. Support lies at $16, & resistance at $18.8

Copper:

• Copper is back above $2.5, likely to have formed a base below. Today’s range $2.46-2.54
• Copper is currently trading at $2.52/pound, immediate support lies at, $2.4 & resistance at  $2.86