Commodities snapshot (precious & industrial)

Metals are trading in consolidation, with metals gaining some grounds. Performance this week at a glance in chart & table -

Gold -

• Gold tested $1100 mark again, however struggling to hold gains as Chinese concern surrounding the commodity market. Today's range - $1100-$1091.
• Gold is likely to trade with downside bias, however a sustained push below $1050 is unlikely
• Gold is currently trading at $1095/troy ounce. Immediate support lies at $1060 and resistance at $1120 area.

Silver -

• Silver is trading in small range ahead of FOMC decision tomorrow. Today's range $14.72-14.58
• Silver is currently trading at $14.67/troy ounce. Support lies at $14 & resistance at $16. $15 is likely to pose interim resistance, whereas $14.5 remains interim support.

Copper -

• Copper gained ground today, over short covering ahead of FED meeting today. Today's range $2.42-2.34.
• Next target is around $2.24.
• Copper is currently trading at $2.40/pound, immediate support lies at, $2.2 & resistance at $2.65.