Gold analysis
Comex Gold ( xauusd ) prices opened higher today as North Korea tested another hydrogen bomb . Equities crashed all over the world and investors are finding gold more attractive to invest . Currently prices are flirting at 1337$ , a good support on daily chart stands at 1327$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this commodity prices upto 1320$ – 1308$ today .
A good resistance on daily chart stands at 1344$ , if traders take this hurdle out and manage to sustain trade above our resistance then expect more firepower in this commodity prices upto 1350$ – 1357$ .
Gold analysis conclusion : Comex xauusd trend is positive for now .
Silver analysis
Comex Silver ( xagusd ) price trading at 17.85$ , it opened higher today again following cues from North Korea tensions . A good base level on daily chart stands at 17.60$ , if traders break this base and manage to sustain trade below our support today . Then expect more pressure in xagusd prices upto 17.40$ – 17.20$ .
A good hurdle on daily chart stands at 18.05$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this precious metal upto 18.30$ – 18.52$ today .
Silver analysis conclusion : Comex xagusd trend is positive for now .
US is close today due to labor day , so stay cautious market may trade in a narrow range .
More will update to our trading signals subscribers .