Gold ( xauusd ) price trading pretty higher today at 1238$ . It fired when fed chairman Jannet Yellen said fed is not in hurry to raise interest rate . Last time also fed pushed the prices till 1270$ . Same case was last night . Today gold chart indicates a resistance at 1248$ . If traders break this hurdle and manage to sustain trade above our daily resistance . Then expect xauusd to zoom upto 1255$ – 1264$ today .
A good support on gold chart stands at 1227$ . If traders take this support out and manage to sustain trade beneath this level . Then expect xauusd to correct upto 1217$ – 1207$ today .
Gold forecast conclusion : Trend is flat to positive for now .
Silver ( xagusd ) price trading at 15.34$ . Interestingly gold fired approx 20$ but xagusd just shot 20-25 cents . A good support on today’s silver chart stands at 14.98$ . If traders break this major base support and manage to sustain beneath our base level . Then expect xagusd to correct upto 14.70$ – 14.50$ today .
A good resistance on silver daily chart at 15.55$ . If traders break this hurdle and manage to sustain above our resistance today . Then expect xagusd to zoom upto 15.80$ – 16$ today .
Silver forecast conclusion : Trend is flat for now .
Today we have Non farm employment change and Crude oil inventories from US . So stay cautious .
More will update to our trading signal subscribers .