Gold forecast
Comex Gold ( xauusd ) price trading at 1243$ . It fired beautifully in early session and currently trading pretty firm . A good resistance on daily chart stands at 1250$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect more firepower in xauusd prices upto 1257$ – 1265$ today .
A good support on daily chart stands at 1234$ . If traders take this support out and manage to sustain trade below our support today . Then expect some pressure in comex xauusd prices upto 1227$ – 1220$ today .
Gold forecast conclusion : We have UK’s unemployment rate after 2 hours so keep an eye on that data . It could give some push to xauusd prices . Otherwise trend is looking positive for now .
Silver forecast
Comex Silver ( xagusd ) prices trading at 16.88$ . It tested 16.93$ and currently flirting with 16.90$ only . A good hurdle on daily technical chart stands at 17.12$ . Once traders take this hurdle out and manage to hold this resistance and trade with good volumes above this level . Then expect more upside in xagusd prices upto 17.35$ – 17.54$ today .
A good base level on daily technical chart stands at 16.60$ . If traders manage to break this base and sustain trade below our support today . Then expect some pressure in silver prices upto 16.40$ – 16.20$ today .
Silver forecast conclusion : Comex xagusd trend is positive for now .
Read our yesterday’s forecast here
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