Commodities snapshot (precious & industrial)

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

Gold:

• Gold is grinding lower below the key support around $1230 area. Today’s range $1224-1229
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1225/troy ounce. Immediate support lies at $1230, and resistance at $1290 area.

Silver:

• Silver is down in line with the gold. Today’s range $16.10-16.34
• Silver is currently trading at $16.23/troy ounce. Support lies at $16 & resistance at $17

Copper:

• Active call - Copper is likely to rise towards $3.2 per pound. Copper is the worst performer of the week. Today’s range $2.50-2.48
• Copper is currently trading at $2.49/pound, immediate support lies at, $2.4 & resistance at  $2.7