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2017.05.2310:02:00UTC+00Commodities Snapshot (precious & Industrial)

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

Gold:

  • Gold is marginally weaker today despite the weakness in the dollar as risk aversion subsides. Today’s range $1264-1258
  • We expect the gold price to reach $1390 per troy ounce.
  • Gold is currently trading at $1262/troy ounce. Immediate support lies at $1230, and resistance at $1290 area.

Silver:

  • Silver is the best performer of the week. Today’s range $17.03-17.34
  • Silver is currently trading at $17.27/troy ounce. Support lies at $16 & resistance at $17

Copper:

  • Active call - Copper is likely to rise towards $3.2 per pound. Copper is the weakest performer of the week so far. Today’s range $2.57-2.60
  • Copper is currently trading at $2.59/pound, immediate support lies at, $2.4 & resistance at  $2.7

Gold

 +0.56%

Silver

 +2.68%

Copper

 -0.04%

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