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Commodities snapshot (precious & industrial)

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

Gold:

  • Gold reverses earlier decline as stock prices lose steam. Today’s range $1249-1258
  • We expect the gold price to reach $1390 per troy ounce. In the short-term price is likely to decline to $1225 area.
  • Gold is currently trading at $1257/troy ounce. Immediate support lies at $1230, and resistance at $1275 area.

Silver:

  • Silver recovered the loss and now positive for the week. Today’s range $16.51-16.82
  • Silver is currently trading at $16.78/troy ounce. Support lies at $16.2 & resistance at $17.1

Copper:

  • Copper became from the worst to the best performer of the week. Today’s range $2.59-2.65
  • Copper is currently trading at $2.64/pound, immediate support lies at, $2.4 & resistance at  $2.7

 

Gold

 +0.35%

Silver

 +0.66%

Copper

 +2.57%

 

 

 

 

 

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