Gold analysis
Comex gold ( xauusd ) price trading at 1281$ , its cruising near 1286$ which is our major hurdle which need to cross in order to resume fresh buying in this precious metal . Once market break this major hurdle and manage to sustain trade above our resistance today . Then expect good fireworks in this major commodity upto 1293$ – 1300$ today .
A good support on daily chart stands at 1275$ , once traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this precious metal upto 1268$ – 1260$ .
Gold analysis conclusion : Comex xauusd trend is flat to positive for now .
Silver analysis
Comex silver ( xagusd ) price trading at 17.03$ , its trading in a small range since yesterday . A good hurdle and a major key level on chart stands at 17.25$ , If traders break this hurdle and manage to hold price above this level . Then expect more firepower in this precious metal upto 17.48$ – 17.70$ today .
A good base level on daily chart stands at 16.88$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this major commodity upto 16.70$ – 16.50$ .
Silver analysis conclusion : Comex xagusd trend is flat for now .
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