Weekly Gold forecast
Comex Gold ( xauusd ) prices fired last week and tested 1225$ . It changed the trend from weak to strong as it kept testing highs . It got some good boost after Fed declined to increase interest rates . A good jump came after US unemployment increased from 4.7% to 4,8% .It finally closed at 1219$ . This week we have a good weekly resistance on chart at 1255$ . If trader breaks this major hurdle and manage to close above our resistance this week . Then expect more power to gold buyers upto 1291$ – 1320$ this week .
A good support on weekly chart stands at 1170$ . If trader breaks this major base level and manage to close beneath our support this week . Then expect gold sellers to take control upto 1150$ – 1120$ .
Weekly Gold forecast conclusion : Comex xauusd trend is positive for upcoming week ,
Weekly Silver forecast
Comex Silver ( xagusd ) price tested above 17.70$ and finally settled at 17.50$ . Last week it gave a better push than gold . A good weekly hurdle on chart stands at 17.75$ . If trader breaks this major hurdle and manage to close above our resistance this week . Then expect silver buyers to take control upto 18.20$ – 18.60$ this week.
A good base level on weekly chart stands at 17.05$ . If traders break this major base level and manage to close beneath our support this week . Then expect more power to sellers upto 16.50$ – 16$ this week .
Weekly Silver forecast conclusion : Comex silver trend is positive for this week .
More will update in daily forecast update .