Commodities snapshot (precious & industrial)

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

Gold:

• Gold drops below $1200 as stronger dollar continues to weigh.  Today’s range $1215-1188
• We expect gold to reach $1520. Gold might reach as low as $1155 in the near term.
• Gold is currently trading at $1194/troy ounce. Immediate support lies at $1150, $1190 and resistance at $1225 area.

Silver:

• Silver is testing key supports above $16 area. Today’s range $16.18-16.77
• Silver is currently trading at $16.33/troy ounce. Support lies at $16, & resistance at $17.8

Copper:

• Copper is back above $2.5, likely to have formed a base below. Today’s range $2.52-2.56
• Copper is currently trading at $2.53/pound, immediate support lies at, $2.4 & resistance at  $2.86