Gold forecast
Comex Gold ( xauusd ) price trading at 1230$ . It opened slightly higher today and trading in positive zone since morning . China delivered yet again staggering numbers today . GDP remained flat from 6.9% to 6.9% and Industrial production rises from 6.9% to 7.6% . A good support on daily technical chart stands at 1224$ . If traders breaks this major base for today and manage to sustain trade below our support . Then expect some pressure in xauusd prices upto 1217$ – 1208$ today .
A good resistance on daily technical chart stands at 1238$ . If traders take this base out and manage to sustain trade below our support today . Then expect some recovery in xauusd prices upto 1245$ – 1252$ today .
Gold forecast conclusion : Comex xauusd trend is flat to positive for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 16.04$ . It sustaining well over 16$ but a major hurdle still stands on chart at 16.25$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect some recovery in xagusd prices upto 16.55$ – 16.80$ today .
A good base level on daily technical chart stands at 15.75$ . If traders take this base out and manage to sustain trade below our support today . Then expect some pressure in xagusd prices upto 15.50$ – 15.25$ today .
Silver forecast conclusion : Comex xagusd trend is flat to positive for now .
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