Weekly Silver Gold forecast 3rd week April 2017

Weekly Gold forecast

Last week Gold prices fired again and tested further levels . It even closed above 1280$ challenging a major daily hurdle of 1292$ . This week we have a good resistance on weekly chart stands at 1308$ . If traders manage to unseat this hurdle and close above our resistance . Then expect more firepower to gold buyers upto 1333$ – 1367$ upcoming week .

A good support on weekly chart stands at 1250$ . If traders take this support out and manage to close beneath 1250$ . Then expect more pressure in gold prices upto 1220$ – 1190$ this week .

Weekly Gold forecast conclusion : Comex gold trend is positive for upcoming week .

Weekly Silver forecast

Last week silver tested our major hurdle of 18.55$ but it could not sustain on higher levels . This week we have a good hurdle on weekly chart at 18.92$ . If traders unseat this hurdle and manage to close above our resistance this week . Then expect more rise in silver prices and it may test upto 19.30$ – 19.70$ this week .

A good base level on weekly silver chart stands at 18.15$ . If traders take this support out and manage to close above our resistance this week . Then expect more downside in silver prices upto 17.70$ – 17.20$ this week .

Weekly Silver forecast conclusion : Comex xagusd trend is flat to positive for upcoming week .

We have GDP numbers from china tomorrow morning . Its very important to determine the trend of precious metals for this week . Keep an eye on the data .

You may read our last week Forecast here

More will update in daily forecast update .