Commodities snapshot (precious & industrial)

The metal pack is down today. Performance this week at a glance in chart & table -

Gold:

• Gold is consolidating around $1250 area, awaiting the next cue for direction. $1257 area is a key resistance. Today’s range $1251-1244
• We expect the gold price to reach $1365 per troy ounce.
• Gold is currently trading at $1246/troy ounce. Immediate support lies at $1190, and resistance at $1290 area.

Silver:

• Silver is the worst performer of the day. Today’s range $18.34-18.09
• Silver is currently trading at $18.15/troy ounce. Support lies at $17.2, & resistance at $18.4

Copper:

• Active call - Copper is likely to rise towards $3.2 per pound. Copper is looking to test resistance around $2.7 area. Today’s range $2.64-2.66
• Copper is currently trading at $2.64/pound, immediate support lies at, $2.4 & resistance at  $2.7