Commodities snapshot (precious & industrial)

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

Gold:

• Gold is the best performer of the week on geopolitical tensions in the Middle East. Today’s range $1287-1295
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1290/troy ounce. Immediate support lies at $1250, and resistance at $1290 area.

Silver:

• Silver is up in line with gold. Today’s range $17.54-17.77
• Silver is currently trading at $17.62/troy ounce. Support lies at $16.8 & resistance at $18.2

Copper:

• Copper remains range bound by growth concern and increased supplies. The worst performer of the week Today’s range $2.56-2.53
• Copper is currently trading at $2.54/pound, immediate support lies at, $2.4 & resistance at  $2.7