Commodities snapshot (precious & industrial)

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

Gold:

• Gold is up for  the week on weak dollar and risk aversion. Today’s range $1243-1249
• We expect the gold price to reach $1365 per troy ounce.
• Gold is currently trading at $1245/troy ounce. Immediate support lies at $1190, and resistance at $1290 area.

Silver:

• Silver turned from under performer to the best performer. Today’s range $17.43-17.61
• Silver is currently trading at $17.64/troy ounce. Support lies at $16.6, & resistance at $17.7

Copper:

• Active call - Copper is likely to rise towards $3.2 per pound. Copper covered some of its earlier loss but still down for the week. Today’s range $2.62-2.65
• Copper is currently trading at $2.63/pound, immediate support lies at, $2.4 & resistance at  $2.7