Weekly Gold forecast
Comex Gold ( xauusd ) price closed around 1255$ . Last week it fired beautifully from 1225$ odd zone till 1255$ . It closed at highest point of the week . Next week is gonna be very crucial . We have advance GDP numbers from US and UK and monthly affair of Fed announcement on interest rate . A good resistance on weekly chart stands at 1282$ . If traders take this hurdle out and manage to close above our resistance this week . Then expect more firepower from xauusd prices upto 1308$ – 1335$ .
A good support on weekly chart stands at 1217$ . If traders take this base out and manage to close below our support this week . Then expect bears to have upper hand in market upto 1190$ – 1160$ .
Weekly Gold forecast conclusion : Comex xauusd trend is positive .
Weekly Silver forecast
Comex Silver ( xagusd ) price tested 16.50$ and closed nearly highest point of the week . A good base level on weekly chart stands at 16$ . If traders take this base out and manage to close below our support this week . Then expect more pressure in xagusd upto 15.50$ – 15$ .
A good hurdle on weekly chart stands at 17.05$ . If traders take this hurdle out and manage to close above our hurdle this week . Then expect more firepower in xagusd prices upto 17.50$ – 18$ .
Weekly Silver forecast conclusion : Comex xagusd trend is positive .
We have US & UK GDP numbers with Fed data this week , stay cautious .
Read our last week’s forecast here
More will update in daily forecast .
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