2017.05.2207:55:00UTC+00Commodities Snapshot (precious & Industrial)

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

Gold:

• Gold is marginally higher today on a weaker dollar. Today’s range $1251-1258
• We expect the gold price to reach $1390 per troy ounce.
• Gold is currently trading at $1257/troy ounce. Immediate support lies at $1230, and resistance at $1290 area.

Silver:

• Silver is the best performer of the day. Today’s range $16.81-17.3
• Silver is currently trading at $17.01/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 day so far. Today’s range $2.56-2.59
• Copper is currently trading at $2.53/pound, immediate support lies at, $2.4 & resistance at  $2.7