Gold analysis 10 august 2017

By | August 10, 2017

Gold analysis

Comex Gold ( xauusd ) prices fired last night after US president tweeted and indicated good aggression towards North Korea . Market panicked and as usual investors returned for safest option of gold . Currently prices are trading at 1279$ . A good resistance on daily chart stands at 1285$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 1290$ – 1299$ today .

A good support on daily chart stands at 1270$ . If traders take this base out and manage to sustain trade below our support today , then expect some profit booking upto 1262$ – 1255$ today .

Gold analysis conclusion : Trend is positive for now but we have major manufacturing data today from UK and US . Stay cautious .

Silver analysis

Comex Silver ( xagusd ) price trading at 17.04$ . It fired beautifully after US aggression towards North Korea . World is on danger stage as 4 nuclear powers are showing aggression against each other . US & North Korea , India & China . A good base on technical chart stands at 16.80$ . If traders take this base out and manage to sustain trade below our support today . Then expect some profit booking upto 16.60$ – 16.40$ today .

A good hurdle on daily chart stands at 17.25$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower from this major commodity upto 17.50$ – 17.70$ .

Silver analysis conclusion : Comex xagusd trend is positive for now .

More will update to our trading signals subscribers .

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