Investors cautious to proceed Gold


Spot price of gold tested 1214$ before crashing below 1200$. Good consumer numbers from US and higher DJIA Index is making investors cautious to proceed in gold at higher prices. Nasdaq trading at lifetime high. Spot gold trading at 1204.50$ while comex futures trading at 1210.50$.

  • Yesterday major profit booking crashed xauusd prices while investors took a breather.
  • According to Kitco Gold Index major selling in gold came due to selling not cause of dollar index.
  • Dollar Index is pretty stable since yesterday and it may be a factor today when it starts moving up or down.
  • US equity markets are unstoppable since last week so need to keep an eye on higher levels.
  • We have Prelim Quarterly GDP and monthly home sales data from US today, keep an eye on both data it would be crucial.
  • Higher US Stock market is equals to good US economy which is putting pressure on gold prices.
  • Next week we have US unemployment rate, Manufacturing and Non farm employment data.

Technical chart suggests a good support at 1198, This base I mentioned in yesterday’s gold update as well and Xauusd made low of 1199.60. Once market break and sustain below 1198$ then expect good selling till 1191$- 1184$.

Resistance on gold technical chart stands at 1218$, If traders break and sustain above our resistance. Then expect good rise till 1226$- 1234$.


Spot price of silver trading lower today at 14.74$. Xagusd also crashed with Xauusd and trading in weak zone for now. Comex futures trading even lower at 14.67$. A good base on this major commodity stands at 14.50$, If market break and sustain below our base. Then expect good pressure till 14.30$- 14.054.

Technical chart of silver has a good resistance at 15.05$, If traders take this hurdle out and sustain above our resistance. Then expect good buying in silver prices till 15.30$- 15.50$.

Crude oil

Nymex crude oil prices trading flat at 68.40$ since Monday. Today we have US oil inventory which would decide the trend today. Till that we have a good base on crude oil prices at 67.40$, If traders break and sustain below this level. Then expect market to test till 66.20$- 65.10$.

Resistance on chart stands at 69.20$, If market break this hurdle and sustain above our resistance. Then expect good recovery till 69.90$- 70.70$.


Euro tested above 1.1730 yesterday due to flat/weak USD Index. But currently trading below 1.1700 as dollar index advances. A good base on eur/usd chart stands at 1.1650, If traders take this base out and manage to sustain below our support. Then expect good pressure in euro till 1.1600- 1.1550.

Resistance on euro technical chart stands at 1.1760, If market take this hurdle out and sustain above our resistance. Then expect good rise till 1.1800- 1.1840.


Comex Gold, Silver trend is weak for now. Nymex crude oil levels are valid till inventory, trend is flat to weak. Euro trend is flat to weak for now.

More will update to our signals subscribers.

You may join our signaks in $99 per month. Whatsapp us for any query at


Posted in: Gold Silver Updates

Comments are closed.