Gold forecast
Gold prices were trading with pretty solid movement at 1080$ when US GDP data came better than expected . It gave a much needed brake to prices and xauusd tested 1071 after that . Currently prices are trading at 1075$ . A good resistance on chart at 1084$ . If prices manage to break this and sustain above thid hurdle then expect market to test upto 1092$ – 1100$ . Above 1100$ closing would result in christmas for buyers .
If gold price beat our chart support at 1067$ and manage to sustain beneath this base level then expect market to correct upto 1058$ – 1050$ today in gold .
Gold forecast conclusion : Trend is positive for buyers but stay cautious as volumes already sinked so volatility may increased .
Silver outlook
Silver prices ( xagusd ) trading at 14.26$ . It was about to enter in resistane zone when US GDP data sinked it . A good resistance on chart at 14.45$ . Once market break this hurdle and manage to sustain above our intraday resistance then expect 14.70 – 14.90$ in xagusd today .
If silver price manage to break our support at 14$ and sustain below this level then expect correction upto 13.80$ – 13.60$ today in silver .
Silver outlook conclusion : Trend is in favor of buyers .
More will update to our trading signal subscribers