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Commodities snapshot (precious & industrial) – EconoTimes

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Commodities snapshot (precious & industrial)

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

Gold:

  • Gold is continuing to move driven by a weaker dollar, and geopolitical tensions in the Middle East. Today’s range $1278-1295
  • We expect the gold price to reach $1390 per troy ounce.
  • Gold is currently trading at $1292/troy ounce. Immediate support lies at $1250, and resistance at $1290 area.

Silver:

  • Silver is up in line with gold. Today’s range $17.5-17.77
  • Silver is currently trading at $17.69/troy ounce. Support lies at $16.8 & resistance at $18.2

Copper:

  • Copper remains range bound by growth concern and increased supplies. Today’s range $2.57-2.51
  • Copper is currently trading at $2.55/pound, immediate support lies at, $2.4 & resistance at  $2.7

Gold

 +1.06%

Silver

 +0.80%

Copper

 -0.62%

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