Commodities snapshot (precious & industrial)
Source: FxWire Pro - Commentary / 19 Sep 2018 11:07:44 America/New_York
The metal pack is up today. Performance this week at a glance in chart & table -
- Gold is up today but remains under pressure amid a stronger dollar. Today’s range $1207-1195
- Gold is currently trading at $1203/troy ounce. Immediate support lies at $1190, and resistance at $1220 area.
- Further decline likely as the silver breaks key support around $14.2 area. However, a temporary correction on a weaker USD can’t be ruled out. Today’s range $14.10-14.28
- Silver is currently trading at $14.25/troy ounce. Support lies at $13.4 & resistance at $15
- Copper remains under pressure as the U.S. China trade negotiations failed so far. But sharply higher this week, despite U.S. announcing tariffs on $200 billion worth of goods. Today’s range $2.61-2.76
- Copper is currently trading at $2.73/pound, immediate support lies at, $2.55 & resistance at $2.75
+4.60%© FxWire Pro 2019. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.