Commodities snapshot (precious & industrial)

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

Gold:

• Gold is trying to form a base above $1150. Marginally down on stronger dollar.  Today’s range $1169-1179
• We expect gold to reach $1520. Gold might reach as low as $1155 in the near term.
• Gold is currently trading at $1173/troy ounce. Immediate support lies at $1150, and resistance at $1225 area.

Silver:

• Silver is rmuch better performer than gold this week as it finds support around key $16 area. Today’s range $16.95-17.25
• Silver is currently trading at $17.11/troy ounce. Support lies at $16, & resistance at $17.8

Copper:

• Copper is struggling at previous peak around $2.7 area, might head for a deeper correction before rising further. Today’s range $2.61-2.67
• Copper is currently trading at $2.65/pound, immediate support lies at, $2.4 & resistance at  $2.86