Gold
Spot gold price trading at 1200.70$. Xauusd opened flat and tested 1195.50$ in early session. Comex futures trading at 1205.90$. Bank of Japan’s Governor Kuroda will hold a press conference within some minutes from now. BOJ is among top 5 central banks which could influence market. He will give an insight about Japan’s economy and upcoming interest rate decision if there is any.
- Dow Jones Index is trading weaker today as its sustaining well below 26000. It could boost xauusd prices.
- US have a labor day holiday which could hamper volume and may influence forecast.
- Xauusd needs to break the range of 1215-1195$ in order to resume selling or buying.
Technical chart suggests a good support in gold price at 1195$. If market break and sustain below this level. Then expect good pressure till 1188$- 1181$.
Resistance in gold chart stands at 1209$, If market break and sustain above our resistance. Then expect xauusd to test till 1215$- 1223$.
Silver
Spot price of silver opened lower and tested low of 14.38$ in early session today. Currently spot trading at 14.48$ and comex futures trading at 14.51$. A good support in silver price stands at 14.30$. I am updating this support since last week. In my last forecast i updated the same. If market break and sustain below this level. Then expect pressure in this precious metal till 14.05$- 13.80$.
Resistance in silver chart stands at 14.70$, If traders break and sustain above our resistance. Then expect good rise in silver price till 14.92$- 15.12$.
Crude oil
Nymex crude oil price trading lower today at 69.50$. It opened lower today and tested 69.31$ in early session. A good base on this major commodity stands at 68.80$. If market break and sustain below this level. Then expect good pressure till 68.10$- 67.50$.
Resistance in crude oil price stands at 70.20$. If traders break and sustain above our resistance. Then expect good rise till 70.90$- 71.50$.
Euro
Euro trading above 1.1600 thanks to lower dollar index. Dollar trading at lowest point of the day at 94.66. A good support in euro stands at 1.1550. If market break and sustain below this level. Then expect good pressure till 1.1500- 1.1470.
Resistance in euro stands at 1.1660. Once traders break and sustain above our resistance. Then expect good rise till 1.1700- 1.1750.
Conclusion
Comex Gold, Silver trend is weak for now. Read weekly gold forecast here. Crude oil trend is flat to weak. Euro is flat to positive.
More will update to our signals subscribers.