Gold Forecast
Gold price trading in same old range since yesterday at 1177$, today is last day to pay loan’s installment for Greece and if it does not pay today it will be officially called defaulter unless lenders extend deadline till 5th july ( Referendum date ). So again all focus would be on Greece crisis today and this would drive gold price, if gold price click our support of 1165$ and sustain below our technical support today then expect gold to correct upto 1156$ – 1144$.
If gold price click our resistance of 1190$ and sustain above our resistance then expect gold to fire upto 1199$ – 1208$ today.
Gold forecast conclusion: Gold trend is flat for now and major factor would be Greece only
Silver Forecast
Silver price trading at 15.70$ for now, again in silver also Greece will play major factor to drive the prices, if silver click our support of 15.48$ and sustain below our support today then expect silver to correct upto 15.25$ – 15$.
If silver price click our resistance of 16$$ and sustain above our resistance then expect silver to race upto 16.30$- 16.50$.
Silver forecast conclusion: Silver trend is flat for now and Greece factor would be in play. Lets wait for Greece situation to resolved then will resume trading in precious metals.
Market is heavily counting on Greece to default as its been long europe is giving grant and not taking any action. Precious metals price already has discounted default and we do not see any major spike or downside when Greece outcome announce.
Dollar Index trading weak, Euro to dollar trading flat since morning and we do not see any reason why euro to dollar should sink or rise any further due to this event. Better stay cautious and trade with small positions. No need to panic on this event.
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