Gold forecast daily update 16th June 2017

By | June 16, 2017

Gold forecast

Comex Gold ( xauusd ) prices finally broke 1255$ yesterday and tested 1251$ , currently prices are flirting with 1255$ . A good support on daily technical chart stands at 1247$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xauusd prices upto 1240$ – 1232$ today .

A good resistance on daily technical chart stands at 1262$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect some recovery in xauusd prices upto 1270$ – 1278$ today .

Gold forecast conclusion : Comex xauusd trend is flat to weak for now .

Silver forecast

Comex Silver ( xagusd ) price trading at 16.78$ . Last night it broke 16.70$ but did not sustain below 16.70$ and quickly recovered from there . A good base level on daily technical chart stands at 16.55$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xagusd prices upto 16.30$ – 16.05$ today .

A good hurdle on daily technical chart stands at 17.05$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some firepower in xagusd prices upto 17.28$ – 17.54$ today .

Silver forecast conclusion : Comex xagusd trend is flat for now .

Read daily forecast and levels here

More will update to our trading signals subscribers .