Gold forecast
Comex Gold ( xauusd ) price trading at 1281$ , its trading higher since open and sustaining above 1280$ . A good support on daily technical chart stands at 1270$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xauusd prices upto 1260$ – 1252$ today .
A good resistance on daily technical chart stands at 1292$ . If traders breaks this major hurdle and manage to sustain trade above our resistance , Then expect more firepower in xauusd prices upto 1300$ – 1308$ today .
Gold forecast conclusion : Comex xauusd trend is positive for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 17.53$ . Its trading flat since morning and did not move . A good base level on daily technical chart stands at 17.30$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xagusd prices upto 17.05$ – 16.80$ today .
A good hurdle on daily technical chart stands at 17.75$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect more firepower in xagusd prices upto 17.99$ – 18.20$ today .
Silver forecast conclusion : Comex xagusd trend is flat to positive for now .
We have Manufacturing data from US today . Stay cautious .
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