Commodities snapshot (precious & industrial)

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

Gold:

• Gold is grinding lower as the French election outcome triggers risk-on rallies. Today’s range $1265-1278
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1268/troy ounce. Immediate support lies at $1230, and resistance at $1290 area.

Silver:

• Silver is down in line with the gold. Today’s range $17.63-18.03
• Silver is currently trading at $17.69/troy ounce. Support lies at $17.5, & resistance at $18.6

Copper:

• Active call - Copper is likely to rise towards $3.2 per pound. Copper benefits from risk on sentiment; the best performer of the week. Today’s range $2.54-2.59
• Copper is currently trading at $2.57/pound, immediate support lies at, $2.4 & resistance at  $2.7