Gold forecast
Comex gold ( xauusd ) price trading at 1279$ , last night it crashed as dollar index gave a shocker and it cracked from 1295$ – to 1275$ loosing almost 1.75% in single session within hours . Pressure also came from ECB chairman Draghi speech when he pointed out despite firm economy , inflation is still a concern . Coming on technical , 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 more pressure on this precious metal upto 1262$ – 1255$ today .
A good resistance on daily chart stands at 1286$ , if traders take this hurdle out and manage to hold price above our resistance today . Then expect good recovery in xauusd price upto 1293$ – 1300$ .
Gold forecast conclusion : Comex gold trend is flat for now . Follow our key levels to take any trade in market .
Silver forecast
Comex silver ( xagusd ) price trading at 16.97$ , yesterday it lost nearly 3% as euro fluctuate due to German’s political scenario . A good base on daily xagusd chart stands at 16.75$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 16.51$ – 16.30$ 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 in this precious metal upto 17.48$ – 17.70$ .
Silver forecast conclusion : Comex silver trend is flat for now .
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