Gold forecast
Gold price ( xauusd ) trading pretty higher today at 1078$ . Yesterday it tested 1081$ . Chart suggests a good support at 1065$ . Once market beat this level and manage to sustain beneath this typical support . Then expect bears to take charge once again upto 1055$ – 1047$ today .
A good resistance on xauusd chart at 1091$ . This is like judgement day for gold . If market beat this level and manage to sustain with good volumes . Then expect christmas for buyers and prices can fire upto 1100$ – 1108$ today .
Gold forecast conclusion : Trend is positive for now . Avoid any selling for now .
Silver outlook
Silver price ( xagusd ) trading at 14.28$ . It tested 14.32$ yesterday . A good resistance on chart at 14.50$ . Once market cross this hurdle and sustain above this level . Then expect market to zoom upto 14.80$ – 15$ today .
If silver price break our intraday chart support at 14$ and manage to sustain below our trading support level . Then expect some pressure in silver upto 13.80$ – 13.60$ today .
Silver outlook conclusion : Trend is positive for now . Avoid any selling for now .
Today we have two major data from US which will decide fate of gold silver today .
US GDP Q3 and Existing home sales ( Nov )
Both are high impact data so stay cautious .
More will update to our trading signal subscribers