Daily Gold/Silver Market Update: Friday, May 13, 2016

Daily Market Updates From National Bullion House
Dubai’s leading precious metals investment hub

GOLD MARKET UPDATE

Pivot: 1279
Our preference: short positions below 1279.00 with targets @ 1256.00 & 1250.00 in extension.

Alternative scenario: above 1279.00 look for further upside with 1283.00 & 1288.00 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1279.00.

Supports and resistances:
1288 / 1283 / 1279 / 1271.50 (Major) / 1256 / 1250 / 1241

SILVER MARKET UPDATE

Pivot: 17.25

Our preference: short positions below 17.25 with targets @ 16.86 & 16.75 in extension.

Alternative scenario: above 17.25 look for further upside with 17.45 & 17.58 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Supports and resistances:
17.58 / 17.45 / 17.25 / 17.07 (Major) / 16.86 / 16.75 / 16.60

National Bullion House serve a wide range of clients: savers, traders and speculators, elite investors, jewellery shops and banks. With a successful track record in managing physical bullion trading activity, NBH specialize in providing the most rewarding investment opportunities in precious metals, with a dominant focus on gold.

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