Commodities snapshot (precious & industrial)

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

Gold:

• Gold is sharply down today as dollar recovers and safe haven demands wane. Today’s range $1250-1265
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1250/troy ounce. Immediate support lies at $1230, and resistance at $1290 area.

Silver:

• Silver turned from the best to the worst performer of the week. Today’s range $16.46-17.02
• Silver is currently trading at $16.52/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 weakest performer of the week so far. Today’s range $2.55-2.48
• Copper is currently trading at $2.53/pound, immediate support lies at, $2.4 & resistance at  $2.7