Gold Silver price forecast update 16th March 2017

By | March 16, 2017

Gold forecast

Comex Gold ( xauusd ) price fired after fed decided to hike interest rate last night . FOMC hiked 25 bps and it gave steroids boost to prices . Currently prices are flirting at 1226$ . A good resistance on daily chart stands at 1237$ . If traders breaks this major hurdle and manage to sustain trade above our resistance . Then expect more power to gold bulls upto 1248$ – 1257$ today .

A good support on daily chart stands at 1217$ . If traders breaks this major base level and manage to sustain trade beneath our support today . Then expect gold prices to test upto 1208$ – 1200$ today .

Gold forecast conclusion : Comex xauusd trend is positive for now .

Silver forecast

Comex Silver ( xagusd ) price trading at 17.45$ . It fired last night from 16.90$ and gained good ground overnight only . A good base level on daily chart stands at 17.20$ . If traders breaks this major base level and manage to sustain trade beneath our support today . Then expect silver price to test upto 17$ – 16.80$ today .

A good hurdle on daily chart stands at 17.70$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect silver prices to test upto 17.92$ – 18.15$ today .

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

We have UK’s monetary policy today . So stay cautious .

More will update to our trading signals subscribers .