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 $1265-1270
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1266/troy ounce. Immediate support lies at $1230, and resistance at $1290 area.

Silver:

• Silver is the worst performer of the week. Today’s range $17.21-17.45
• Silver is currently trading at $17.34/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 week so far. Today’s range $2.55-2.58
• Copper is currently trading at $2.57/pound, immediate support lies at, $2.4 & resistance at  $2.7