Metals are flying today amid risk aversion and lower dollar. However gave up the gains after positive initial jobless claims and PMI data. Performance this week at a glance in chart & table –
- Gold – Gold broken above $1200/ troy ounce, however failed to break above the key 1224 level. Air strikes by Saudi Arabia generated safe haven bids for gold. Gold traded as high as 1220 intraday. Currently trading at $1205/ troy ounce. Immediate support lies at 1178, 1160 and resistance at 1224.
- Silver – Silver traded just similar to gold today. It is top performer this week. Mint ratio is at 70.47, down 0.11% today. Silver is currently trading at $17.07/troy ounce, traded as high as $17.43/ troy ounce. Support lies at 15.42,14 & resistance at 17.5-17.7.
- Copper – Copper traded as high as $2.87/pound, however failed to hold back gains amid stronger dollar. Copper is trading at $2.81/pound. Immediate support lies at 2.74, 2.59 & resistance at 2.93, 3.07.
|
Gold |
1.90% |
|
Silver |
2.15% |
|
Copper |
2.11% |
The material has been provided by InstaForex Company – www.instaforex.com