Gold forecast
Comex gold ( xauusd ) price struggled last night to past 1285$ and still trading at 1281$ . European shares climbed yesterday as confidence sidelined German political drama . This gave euro a good push and gold recovered from lows . A good support on daily chart stands at 1272$ , if traders cut this base and manage to hold price below this support . Then expect good crack in this major commodity upto 1266$ – 1260$ today .
A good resistance on daily chart stands at 1293$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in this precious metal upto 1299$ – 1307$ .
Gold forecast conclusion : Comex gold trend is flat to positive for now .
Silver forecast
Comex silver ( xagusd ) price trading at 17$ , a good hurdle on daily chart stands at 17.25$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower in this major commodity upto 17.48$ – 17.70 .
A good base level on daily chart stands at 16.80$ , if traders take this base out and manage to sustain trade below our support today . Then expect good pressure in this precious metal upto 16.60$ – 16.40$ today .
Silver forecast conclusion : Comex silver trend is flat to positive for now .
We have core durable monthly orders update from US today . Stay cautious .
Read our yesterday’s metals analysis here
More will update to our trading signals subscribers .
Leave your comment for any query or feedback .