Gold price forecast
Gold price ( xauusd ) trading in a small range since yesterday . After new home sales data gold tried to gave a spike and it tested 1170$ zone yesterday but then it did not sustain on higher levels . It retraced from 1170$ to 1163$ and now its trading at 1165$ . Today we have two major data from US . First is core durable goods order of septmber . Second is CB Consumer confidence . Both will have huge impact on Dowjones and gold price .
A good support in gold at 1155$ once market break thid and sustain below this technical support then expect market to correct upto 1145$ – 1132$ today
If gold price click our technical resistance at 1172$ and sustain above our major resistance today then expect market to test upto 1181$ – 1192$ today .
Gold price forecast conclusion : Gold trend is flat for now . So just follow technical levels .
Silver rate prediction
Silver prices ( xagusd) trading in a small zone since yesterday . Its now trading at 15.85$ . Yesterday we gave a buy silver signal at 15.92$ but we exited on cost . A good support in silver today at 15.70$ once market break this and sustain below this rate then expect market to correct upto 15.50$ – 15.30$ today
If silver rate click our technical resistance at 16.05$ and sustain above our major hurdle today then expect market to test upto 16.35$ – 16.55$ today .
Silver rate prediction conclusion : Silver trend is flat for now .
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