Gold, Silver Spot Forecast: Dec. 06, 2019

Published 12/06/2019, 07:10 AM

Gold And Silver Spot

Gold in a sideways trend but approaching key resistance at 1488/92.

Silver also very much in a sideways trend with no clear trend today or trade signals but watch key resistance at 1696/99.

Gold minor resistance at 1476/77 but above here retests this week’s high at 1484. Try shorts at 1488/92 with stops above & again at 1494. A break higher is a medium term buy signal.

We bottomed exactly at first support at 1472/71. On further losses look for good support at 1466/64. Longs need stops below 1462.

Silver holding strong resistance at 1696/99 but a break above 1700 targets 1710, 1720 & selling opportunity at 1730/40 with stops above 1755. A break higher is a buy signal Strong support at the November low of 1667/62. Longs need stops below 1650 for another buying opportunity at 1630/20.

Trends

Weekly outlook is negative

Daily outlook is neutral

Short Term outlook is neutral

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.