Weekly gold price forecast
Last week gold ( xauusd ) prices were trading in a small range entire week . Then US unemployment rate came and market crashed from 1321$ till 1304$ . After making lows near 1300$ it fired back and finally closed at 1324$ . This week it has a major weekly support at 1288$ . If traders break this major base level and manage to close beneath our weekly support . Then expect this precious metal prices to crack upto 1251$ – 1220$ this upcoming week .
A good resistance on weekly gold chart stands at 1355$ . If traders break this major weekly hurdle and manage to close above our weekly resistance . Then expect this precious metal to test upto 1388$ – 1421$ this upcoming week . There are good chances that it could fire up with silver prices . We had a good positive phase in silver last week .
Weekly gold trading forecast conclusion : Xauusd trend is flat to weak for this upcoming week . But keep an eye on intraday levels as silver has entered in positive zone last week .
More will update in daily intraday forecast .