Gold price forecast
Comex Gold ( Xauusd ) price trading at 1162$ . Yesterday it fired from lower levels and continued its run . Main fire in xauusd price came due to weakness in dollar index. Dollar weakness is direct related to precious metals rise.Today it has a good resistance on daily chart at 1172$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect gold prices to test upto 1181$ – 1190$ today .
A good support on daily chart stands at 1150$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect gold price to test upto 1142$ – 1134$ today .
Gold price forecast conclusion : Comex Xauusd trend is positive for now. But I wont advice any major buy on these levels. I would advice to wait till 1157-1153$ and then go for buy with minimum stop loss of 1150 or below this major support.
Silver price forecast
Comex Silver ( Xagusd ) price trading at 16.20$ . I had given a buy signal yesterday to our subscribers . Will update on this in my next post . A good hurdle on daily chart stands at 16.35$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect silver prices to test upto 16.56$ – 16.78$ today .
A good base level on daily xagusd chart stands at 15.98$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect silver price to test upto 15.75$ – 15.51$ today .
Silver price forecast conclusion: Comex Xagusd trend is positive for now. But we have already booked profit in silver signal which i am going to update in next post. So avoid buying on these levels and wait at least 16.05$ to initiate a fresh buy.
More will update to our trading signals subscribers .
This post is updated at August 08th 2018.