Commodities snapshot (precious & industrial)

13 September 2016, 01:26
Eko Rediantoro
0
19

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

Gold:

  • Gold is down despite risk aversion in the market. Today’s range $1322-1330.5
  • We expect gold to reach $1520
  • Gold is currently trading at $1325/troy ounce. Immediate support lies at $1300 and resistance at $1395 area.

Silver:

  • Silver gave up all of its gains. Today’s range $19.2-18.7
  • Active call – Buy Silver @ $16.7 with target around $19 and stop loss at $14.8. Target extended to $26
  • Silver is currently trading at $18.88/troy ounce. Support lies at $18, & resistance at $19, $20.7, $22

Copper:

  • Copper is once again testing support around $2.07 area. Today’s range $2.06-2.09
  • Active call – Sell copper @2.06 and at rallies with targets around $1.75, $1.6/pound with stop loss around $2.4/pound
  • Copper is currently trading at $2.08/pound, immediate support lies at, $2.03 & resistance at  $2.3

 

Gold

-0.23%

Silver

-0.89%

Copper

 -0.38%


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