Gold price forecast
Gold prices trading flat today as monday opened flat all over forex currencies and equity markets , now its trading at 1134$. Xauusd trading a small range since friday without any major move. A good base on comex gold chart stands at 1125$, once gold break our intraday support at 1125$ and sustain below our support then expect gold to correct upto 1117$ – 1108$ today
A good resistance on this precious metal chart stands at 1141$. If gold price click our intraday resistance at 1141$ and sustain above our resistance then expect gold to fire upto 1150$ – 1161$ today
Gold price forecast conclusion : Intraday gold trend is positive for now but no fresh buy recommendation due to lower range since last week. We would advice wait in market before taking any major position.
Silver price forecast
Silver price trading at 14.55$ almost flat since opening. A good resistance on xagusd chart stands at 14.80$, if silver price click our intraday resistance at 14.80$ and sustain above our resistance then expect silver to test upto 15.05$ – 15.30$ today.
A good base on this major commodity stands at 14.30$, If silver price break our intraday support at 14.30$ and manage to sustain below our support then expect silver to correct upto 14.05$ – 13.80$ today.
Silver price forecast conclusion : Silver trend is flat for now, Avoid major buy or sell for now as market is in flat zone.
Dollar Index is trading with positive bias since friday which is indicating a sell coming in precious metals. We would advice comex signals subscribers to avoid buy for now. Equity markets are trading higher due to good numbers from US market.
Good job numbers are fueling growth of US economy which could impact on precious metals prices. Dow Jones trading higher and its in positive zone for a now. Wait to take a buy trade in bullion market for now.
More will update to our subscribers