Gold forecast
Comex Gold ( xauusd ) price trading at 1288$ . It tested 1295$ in early trading session and now trying to settle in 1285-88$ range . A good base level on daily chart stands at 1278$ . If traders breaks this major base level and manage to sustain trade beneath our support today . Then expect gold prices to test upto 1270$ – 1262$ today .
A good resistance on daily chart stands at 1302$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower into gold prices upto 1308$ – 1317$ today .
Gold forecast conclusion : Comex xauusd trend is positive for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 18.57$ . Its kinda sustaining above 18.55$ but strength is not there which require to unleash other round of buying in this precious metal . A good hurdle on daily chart stands at 18.75$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect silver prices to rise upto 18.99$ – 19.20$ today .
A good base level on daily chart stands at 18.30$ . If traders unseat this base and manage to sustain trade beneath our support today . Then expect some pressure in silver prices upto 18.05$ – 17.80$ today .
Silver forecast conclusion : Comex xagusd trend is positive for now .
China’s GDP and Industrial production has shown significant rise .
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