2017.01.1207:13:00UTC+00Commodities Snapshot (precious & Industrial)

Metal pack is up today. Performance this week at a glance in chart & table -

Gold:

• Gold is above $1200 area for the first time in 2 months, however entering resistance zone that ranges from $1195 to $1220. It is grinding higher today, despite a strong dollar.  Today’s range $1207-1190
• Gold is currently trading at $1205/troy ounce. Immediate support lies at $1150, and resistance at $1225, $1285 area.

Silver:

• Silver rally likely to remain below $17.2 and definitely below $18. Today’s range $16.68-17.01
• Silver is currently trading at $16.9/troy ounce. Support lies at $16, & resistance at $17.8

Copper:

• Copper is the best performer of the week. As expected facing selloffs around $2.67 area. Today’s range $2.6-2.66
• Active call – Sell copper targeting $2.15 per pound   
• Copper is currently trading at $2.62/pound, immediate support lies at, $2.4 & resistance at  $2.86