Gold Silver forecast update 17th March 2017

By | March 17, 2017

Gold forecast

Comex Gold ( xauusd ) price trading at 1227$ . Its trading in 8-9$ range since yesterday . It made high near 1233$ and since then , its flirting with 1225$ and 1230$ . A good support on daily chart stands at 1224$ . If traders breaks this major base level and manage to sustain trade beneath our support today . Then expect gold price to test upto 1217$ – 1207$ today .

A good resistance on daily chart stands at 1235$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect gold prices to test upto 1242$ – 1251$ today .

Gold forecast conclusion : Comex xauusd trend is flat to weak for now .

Silver forecast

Comex Silver ( xagusd ) price trading at 17.32$ . It tested our major hurdle of 17.55$ last night but could not sustain and crashed from there . A good base level on daily chart stands at 17.20$ . If traders breaks this major base and manage to sustain trade beneath our support today . Then expect silver price to test upto 17$ – 16.78$ today .

A good hurdle on daily chart stands at 17.55$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect some breather to silver buyers upto 17.78$ – 17.99$ today .

Gold forecast conclusion : Comex silver trend is flat to weak for now .

We have consumer sentiment and industrial production data from US today . Stay cautious .

More will update to our trading signals subscribers .