Gold forecast
Gold ( xauusd ) price trading at 1231$ today . Yesterday it cracked from 1240$ to 1225$ . A good support on gold chart stands at 1224$ . If traders break this major support level and manage to sustain beneath our support today . Then expect this commodity to correct upto 1217$ – 1209$ today .
A good resistance on gold chart stands at 1240$ . If traders book this hurdle and manage to sustain trade above our hurdle today . Then expect this precious metal to fire upto 1248$ – 1256$ .
Gold forecast conclusion : Trend is flat for now . Below our support fresh panic may start .
Silver forecast
Silver ( xagusd ) price trding at 16.17$ . Yesterday this precious metal tested 15.89$ and bounced back . A good support on silver chart silver chart stands at 15.88$ . If traders break this major level and manage to sustain beneath our support today . Then expect this commodity to test upto 15.65$ – 15.45$ today .
A good resistance on silver chart stands at 16.50$ . If traders break this hurdle and manage to sustain trade above our resistance today . Then expect this precious metal to fire upto 16.77$ – 16.98$ today .
Silver forecast conclusion : Today chinese gdp and industrial production data came as expected which is a positive sign for this metal . Trend is flat to positive for now .
Today we have consumer sentiments data and industrial productions monthly data from US . Which would effect these two precious metals . So take position wisely .
More will update to our trading signal subscribers