Gold
Gold price did not move anywhere and currently trading in almost same range since yesterday. .Spot is trading at 1190.30$ and Comex futures trading at 1193.50$.
Traders seems to be waiting for buy in every dip as gold is not able to crash nor rising. Despite good rise in dollar index gold is pretty stable and not showing much weakness. Rising tensions between US and China could be supporting gold. China’s minister accused US of intervening in its internal matters.
We could see much more drama ahead in upcoming days and rising tensions between two biggest economies may lead chaos in equity and could be supportive to gold.
Technical chart has a good support at 1184$. If traders break and sustain below this level. Then expect good pressure in xauusd till 1178$- 1170$.
Resistance in gold chart stands at 1202$. If market break and sustain above our resistance. Then expect good recovery and mild rally in xauusd till 1209$- 1218$.
Silver
Silver price trading in 7-10 cents range since Monday. Currently spot trading at 14.40$ and Comex futures trading at 14.42$. Good support in silver chart stands at 14.20$. If market break and sustain below this level. Then expect good pressure till 14$- 13.80$.
Resistance in silver price stands at 14.65$. If market break and sustain above our resistance. Then expect good rise till 14.90$- 15.10$.
Crude oil
Nymex crude oil trading slightly lower since yesterday. Currently trading at 74.60$. Good support in this major commodity stands at 73.80$. If traders break and sustain below this level. Then expect good pressure till 73.20$- 72.50$.
Resistance in crude oil chart stands at 75.20$. If traders break and sustain above our resistance. Then expect good rise till 75.90$- 76.50$.
Euro
Euro trading slightly higher after dollar index weakness since last night. Currently trading at 1.1508. A good resistance in eurusd chart stands at 1.1530. If traders break and sustain above our resistance. Then expect this forex pair to test till 1.1570- 1.1600.
Support in euro chart stands at 1.1470. If traders break and sustain below this base. Then expect good pressure till 1.1430- 1.1400.
Conclusion
Comex Gold, Silver trend is positive for now. We have UK GDP numbers and US data too in evening. Stay cautious. Crude oil is weak and Euro is positive for now.