Gold forecast
Gold ( xauusd ) price opened lower following cues from US elections . FBI turned down case against presidential candidate Hillary Clinton . Hillary is market’s favorite so Dow Jones future and other equity markets are up and precious metals are down . Currently prices are trading at 1291$ . A good support on chart stands at 1284$ . Once traders break this major base level and manage to sustain trade beneath our support today . Then expect gold prices to test upto 1278$ – 1270$ today .
A good resistance on daily gold chart stands at 1301$ . Once traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this precious metal prices to shoot upto 1308$ – 1317$ today .
Gold forecast conclusion : Xauusd trend is weak for now .
Silver forecast
Silver ( xagusd ) prices opened lower following same cues from US elections . Currently its flirting with 18.20$ . A good base level on chart stands at 17.98$ . Once traders break this major base level and manage to sustain trade beneath our support today . Then expect silver prices to crack upto 17.75$ – 17.51$ today .
A good hurdle on silver chart stands at 18.51$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this precious metal prices to test upto 18.74$ – 18.98$ today .
Silver forecast conclusion : Xagusd trend is weak for now .
More will update to our trading signal subscribers .