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Commodities snapshot (precious & industrial)

The metal pack is down today. The performance this week at a glance in the chart & table -

Gold:

  • Gold is treading waters amid a stronger dollar and risk aversion. Today’s range $1220-1230
  • Gold is currently trading at $1222/troy ounce. Immediate support lies at $1175, and resistance at $1230 area.

Silver:

  • Further decline likely as the silver breaks key support around $14.2 area. However, a temporary correction on a weaker USD is currently taking place. The correction might increase to $15.5 per troy ounce. Today’s range $14.50-14.76
  • Silver is currently trading at $14.55/troy ounce. Support lies at $14.4 & resistance at $16

Copper:

  • Copper remains under pressure as the U.S. China trade negotiations failed so far. But sharply higher since last month, despite the U.S. announcing tariffs on $200 billion worth of goods. Today’s range $2.79-2.83
  • Copper is currently trading at $2.8/pound, immediate support lies at, $2.7 & resistance at  $2.95

 

Gold

 +1.15%

Silver

 +1.27%

Copper

  +0.36%

 

 

 

 

 

 

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