Gold forecast

Gold ( xauusd ) price trading at 1260$ . Yesterday it made low below 1250$ and fired back from there after Fed minutes . A good support on chart stands at 1248$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect gold prices to correct upto 1241$ – 1232$ today .

A good resistance on gold chart stands at 1271$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this precious metal to test upto 1280$ – 1290$ today .

Gold forecast conclusion : Xauusd trend is flat to positive for now .

Silver forecast

Silver ( xagusd ) price trading at 17.60$ . A good base level on daily chart stands at 17.38$ . Once traders take this support out and manage to sustain trade beneath our base today . Then expect silver prices to test upto 17.17$ – 16.98$ today .

A good hurdle on intraday silver chart stands at 17.91$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this precious metal to test upto 18.12$ – 18.35$ today .

Silver forecast conclusion : Xagusd trend is flat to positive for now .

Today we have US unemployment claims and Crude oil inventories . So stay cautious .

More will update to our trading signal subscribers .

By marafat