Gold forecast
Comex Gold ( xauusd ) price crashed further and gone 1200$ below .Currently prices are flirting with 1200$ as its trading at 1198$ . A good support on daily chart stands at 1190$ . If traders breaks this major base level and manage to sustain trade beneath our support today . Then expect gold price to test upto 1182$ – 1175$ today .
A good resistance on daily chart stands at 1209$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect some breather to fire upto 1218$ – 1226$ today .
Gold forecast conclusion : Comex xauusd trend is weak for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 16.92$ . Its trading pretty weak since monday and making lows pretty hard . A good base level on daily chart stands at 16.70$ . If traders breaks this major base level and manage to sustain trade beneath our support today . Then expect silver price to test upto 16.50$ – 16.30$ today .
A good hurdle on daily chart stands at 17.10$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect some breather to silver buyers upto 17.32$ – 17.55$ today .
Silver forecast conclusion : Comex xagusd trend is weak for now .
We have Non farm employment change and Unemployment rate from US . Stay cautious .
More will update to our trading signals subscribers .