Commodities snapshot (precious & industrial)

Metals pack tried to gain back ground today, however found sellers at key resistance.. Performance this week at a glance in chart & table -

Gold -

• Gold tested $1100 mark, however failed to hold gains as initial jobless claims report improved pushing dollar higher. Today's range - $1106-$1092.
• Gold is likely to trade with downside bias, however a sustained push below $1050 is unlikely
• Gold is currently trading at $1094/troy ounce. Immediate support lies at $1060 and resistance at $1120 area.

Silver -

• Silver is worse performer than gold today as bulls were halted $15. Today's range $15 -14.7
• Silver is likely to drop close to $14
• Silver is currently trading at $14.75/troy ounce. Support lies at $14 & resistance at $16. $15 is likely to pose interim resistance.

Copper -

• Copper dropped sharply and broken below $2.4 area. Today's range $2.45-2.39.
• Next target is around $2.24.
• Copper is currently trading at $2.40/pound, immediate support lies at, $2.2 & resistance at $2.65.