Gold forecast
Gold ( Xauusd ) price crashed further yesterday and tested below 1250$ zone . Currently prices are trading at 1252$ . A good support on daily gold chart stands at 1244$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect this precious metal to test upto 1238$ – 1230$ today .
A good resistance on daily chart stands at 1262$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this precious metal to test upto 1270$ – 1278$ today .
Gold forecast conclusion : Gold trend is weak for now
Silver forecast
Silver ( xagusd ) prices crashed last night as it tested 17.12$ . Currently prices are trading at 17.21$ . A good base level on silver chart stands at 16.98$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect this major commodity to test upto 16.75$ – 16.51$ today .
A good hurdle on silver daily chart stands at 17.51$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this major commodity to test upto 17.75$ – 17.99$ today .
Silver forecast conclusion : Xagusd trend is weak for now
Today we have two major data from US . Non farm payroll and Unemployment rate . These data will decide the fate of precious metals today and next week . So stay cautious .
More will update to our trading signal subscribers .