Gold Silver analysis last week september 2017

Gold analysis weekly

Comex Gold ( xauusd ) price crashed last week as we gave a caution in our daily forecast update . We enjoyed the crash as our medium term gold sell call initiated at 1332$ , prices closed below 1300$ . A good support on weekly chart stands at 1260$ , if traders take this base out and manage to close below our support this week . Then expect more pressure on this major commodity upto 1230$ – 1200$ .

A good resistance on weekly chart stands at 1332$ , if traders take this hurdle out and manage to close above our resistance this week . Then expect good recovery in this precious metal upto 1362$ – 1393$ this week .

Gold analysis conclusion : This week we have US & UK GDP numbers which will be crucial for precious metals fate for upcoming weeks . Stay cautious .

Silver analysis weekly

Comex Silver ( xagusd ) price crashed from 18.10$ to 16.80$ , a vertical crash in this major commodity . A good base level on weekly chart stands at 16.50$ , if traders take this base out and manage to close below our support . Then expect more pressure on this precious metal upto 16$ – 15.40$ .

A good hurdle on weekly chart stands at 17.55$ , if traders take this hurdle out and manage to close above our resistance this week . Then expect more firepower in this major commodity upto 18.15$ – 18.75$

Silver analysis conclusion : Comex xagusd trend is weak for now .