Commodities snapshot (precious & industrial)
Source: FxWire Pro - Commentary / 19 Sep 2018 16:07:44 Europe/London
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
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