Commodities snapshot (precious & industrial)

Metals continued to lose ground over selling pressure due to lackluster demand and stronger dollar. Performance this week at a glance in chart & table -

• Gold - Gold continues to make lower lows in today's trading in today's trading. Further selloffs are expected at rallies as key support is broken. Gold is currently trading at $1163/troy ounce, failed to break above 1170 as seller emerged. Gold can fall towards $1150/ troy ounce. Prices can move to even $1040/troy ounce if key support is broken. Immediate support lies at 1144 & resistance at 1190.

• Silver - Silver, is moving in sideways in today's trading. Mint ratio is at 73.8, down -0.36% today. Price pattern suggests that it could fall as low as $14/troy ounce. Silver is currently trading at $15.7/troy ounce. Sellers tested the support level intraday. Support lies at 15.5 & resistance at 17.6.

• Copper - Copper failed to gain amid stronger dollar after yesterday's rise. China CPI improved by 1.4% in January but PPI continue to deteriorate at 4.8% for consecutive three years. Copper is trading at $ 2.66/pound. Immediate support lies at 2.54 & resistance at 2.76.