What Next ??? - May 17, 2025

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Gold prices could rise $3225 to $3262 up to and Silver up to $32.95 to $34.26
-Praatap Kolagatla, MD, sQuareindia Advisory


Gold :  

20 analysts responded this week, 12 see prices up, while 8 see prices down, and 0 see prices unchanged. especially Trading range will be between $3102-$3267 levels.

S1:3156 S2:3130 S3:3102
R1:3217 R2:3232 R3:3267

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $30.13-$33.88 levels.

S1:31.69 S2:31.05 S3:30.13
R1:32.47 R2:32.95 R3:33.88

Crude :  

15 of 10 analysts, forecast Crude Oil will rise in next week. 0 respondents predicted that futures will be little changed and 5 said the contract will fall.

S1:61.10 S2:59.86 S3:57.28
R1:62.95 R2:.64.83 R3:65.74

MCX Gold JUN :  

Now support for the Gold is seen at 91505 and below could see a test of 90150-88280. Resistance is now likely to be seen at 93595 a move above could see prices testing 95050-97955.

S1:91505 S2:90150 S3:88280
R1:93595 R2:95050 R3:97955

MCX Silver JUL :  

Now support for the silver is seen at 93655 and below could see a test of 92085-89190. Resistance is now likely to be seen at 96900 a move above could see prices testing 98150-99489.

S1:93655 S2:92085 S3:89190
R1:96900 R2:98150 R3:99489

MCX Crude Oil MAY :  

Now support for the Crude is seen at 5220 and below could see a test of 5050-4515. Resistance is now likely to be seen at 5558 a move above could see prices testing 5768-5920

S1:5220 S2:5050 S3:4515
R1:5558 R2:5768 R3:5920



MAY 19th :

CB Leading Index m/m :
Previous: -0.7% Forecast: -0.7%
Actual > Forecast is good for Dollar

MAY 21st :

Crude Oil Inventories :
Previous: 3.5M Forecast: 1.5M
Actual > Forecast good for Dollar

MAY 22nd :

Unemployment Claims :
Previous: 229K Forecast: 227K
Actual < Forecast is good for Dollar

MAY 22nd :

Flash Manufacturing PMI :
Previous: 50.2 Forecast: 49.9
Actual > Forecast is good for Dollar

MAY 22nd :

Flash Services PMI :
Previous: 50.8 Forecast: 50.7
Actual > Forecast is good for Dollar

MAY 22nd :

Existing Home Sales :
Previous: 4.0% Forecast: 4.5%
Actual > Forecast good for Dollar

MAY 23rd :

New Home Sales :
Previous: 724K Forecast: 696K
Actual > Forecast is good for Dollar

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