Gold
Gold price still holding above water due to uncertainty in world markets. Brexit & US, China war pushing gold prices higher everyday. Currently gold prices trading at 1302$ and price action suggesting more highs this week unless something actually happens.
Politics over Brexit and delay in US, China’s decision over their trade war is causing uncertainty in world market which is helping precious metals prices. Despite strong Dow Jones, Dollar Index is in mild pressure and that is also supporting gold prices keeping at high.
Even traders bidding precious metals prices higher if we factor out dollar gains from gold. Currently gold prices trading at highest point of the day and it seems we have much high ahead. Lets have a look at xauusd support & resistance today.
Gold support stands at 1288$. This is very crucial support in xauusd price. Once traders break and sustain below 1288$. Then expect more pressure till 1280$- 1272$. More pressure below 1272$ not ruled out.
Good resistance in gold chart stands at 1309$. If traders break and sustain above 1309$. Then expect good rise in xauusd till 1317$- 1326$.
Conclusion: Comex Gold price forecast is positive for now. Avoid major selling in precious metals for today.
For Silver, Crude oil & Mcx levels for today. Watch video below