Weekly Gold forecast
Last week Comex Gold ( xauusd ) price hit near 1260$ and we booked our positional signal profits at 1252$ . This week we have non farm employment change data . We always rate this data above FOMC meet or interest rate decision . On top of that we have Fed meeting minutes as well . So its gonna be a crucial week for gold silver prices . A good weekly support on technical chart stands at 1225$ . If traders break this major base and manage to close beneath our support this week . Then expect gold prices to dip more upto 1200$ – 1170$ .
A good resistance on technical chart stands at 1271$ . If traders breaks this major hurdle and manage to close above our resistance this week . Then expect more power to gold buyers upto 1299$ – 1320$ this week .
Weekly Gold forecast conclusion : Comex gold trend is flat for upcoming week . Major data will decide the fate of this precious metal .
Weekly Silver forecast
Comex Silver ( xagusd ) price stayed firm and did not fall from its peak . Its pretty much stayed near its high even on weekly closing . A good hurdle on technical chart stands at 18.55$ . If traders break this major hurdle and manage to close above our resistance this week . Then expect more power to buyers upto 18.99$ – 19.40$ upcoming week .
A good base level on weekly chart stands at 17.70$ . If silver traders take this support out and manage to close silver beneath 17.70$ . Then expect good correction in this precious metal upto 17.20$ – 16.60$ .
Weekly Silver forecast conclusion : Silver trend is positive for upcoming week .
We have Avg hourly earnings , Unemployment rate and non farm employment change data from US this week along with fed minutes . All are extremely important and can change trend within hours . So stay very cautious .
More will update in daily forecast .
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