Gold
Gold price tested 1233$ yesterday and gave an almost 12$ slide from highs. Xauusd could not hold any gains as Dow Jones Index surged more than 500 points. Metals lost their all gains due to more than expected gains from stock market.
President Trump again criticize Fed for raising interest rate. Today we will have Fed meeting minutes which will give insight about last rate hike and more detailed view of Fed thinking. Fed meeting minutes would decipher how Fed is thinking about US economy and if there is potential rate hike is due in december.
Currently gold is hovering at 1223$. Good support in this commodity stands at 1216$. If market break and sustain below this level. Then expect good pressure till 1208$- 1200$.
Resistance in gold price stands at 1237$. Once market break and sustain above our resistance. Then expect good rise till 1244$- 1254$.
Silver
Silver is tested high of 14.86$ last night before sliding till 14.60$. Yesterday xagusd was outperforming yellow metal. Currently market is trading at 14.62$. Good support in silver chart stands at 14.50$. If market break and sustain below this level. Then expect good pressure till 14.30$- 14.05$.
Resistance in silver price stands at 14.92$. This major hurdle is very crucial. Once traders break and sustain above our resistance. Then expect good rise till 15.10$- 15.32$.
Crude oil
Nymex crude oil trading a little higher than yesterday. Currently fix at 71.90$. Today we have crude oil inventory so major movement would be influence by inventory. Good support in oil prices stands at 71.20$. If market break and sustain below this level. Then expect good pressure till 70.40$- 69.80$.
Resistance in crude oil stands at 72.30$. If traders break and sustain above our resistance. Then expect good rise till 73$- 73.80$.
Euro
Euro gave a good breakout yesterday once it broke 1.1610 but could not hold gains. Currently trading at 1.1560. Good support in euro stands at 1.1530. If traders break and sustain below this level. Then expect good pressure till 1.1500- 1.1460.
Resistance in euro stands at 1.1650. If market break and sustain above our resistance. Then expect good rise till 1.1690- 1.1740.
Conclusion
Comex Gold, Silver trend is flat to weak for now but make sure you do not sell any metal till its sustaining above our support. Crude oil is positive. Euro is flat to weak for now.