Commodities snapshot (precious & industrial)

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

Gold:

• Gold is continuing to move driven by a weaker dollar, and geopolitical tensions in the Middle East. Today’s range $1278-1295
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1292/troy ounce. Immediate support lies at $1250, and resistance at $1290 area.

Silver:

• Silver is up in line with gold. Today’s range $17.5-17.77
• Silver is currently trading at $17.69/troy ounce. Support lies at $16.8 & resistance at $18.2

Copper:

• Copper remains range bound by growth concern and increased supplies. Today’s range $2.57-2.51
• Copper is currently trading at $2.55/pound, immediate support lies at, $2.4 & resistance at  $2.7