Gold forecast
Comex gold ( xauusd ) price trading at 1282$ , its trading in small range since yesterday . A good support on daily chart stands at 1274$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 1265$ – 1260$ .
A good resistance on daily chart stands at 1292$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this precious metal upto 1299$ – 1307$ today .
Gold forecast conclusion : Comex xauusd trend is flat to positive for now .
Silver forecast
Comex silver ( xagusd ) price trading at 17.08$ , A good base level on daily chart stands at 16.88$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 16.75$ – 16.50$ today .
A good hurdle on daily chart stands at 17.25$ , Once this barrier is out and traders manage to sustain price above our resistance today . Then expect more firepower upto 17.48$ – 17.70$ .
Silver forecast conclusion : Comex xagusd trend is flat to positive for now .
We have building permits data from US today . Keep an eye on data .
Read our yesterday’s analysis here
More will update to our trading calls subscribers .