Commodities snapshot (precious & industrial)

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

Gold:

• Gold is trading sideways, looking for further direction cue. Today’s range $1270-1269
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1263/troy ounce. Immediate support lies at $1230, and resistance at $1290 area.

Silver:

• Silver is the best performer of the week. Today’s range $17.29-17.45
• Silver is currently trading at $17.35/troy ounce. Support lies at $16 & resistance at $17

Copper:

• Scrapped call - Copper is likely to rise towards $3.2 per pound. Copper is flat for the day. Today’s range $2.54-2.57
• Copper is currently trading at $2.55/pound, immediate support lies at, $2.4 & resistance at  $2.7