Daily Gold/Silver Market Update: Thursday June 2, 2016

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

GOLD MARKET UPDATE

Pivot: 1205.80

Our preference: long positions above 1205.80 with targets @ 1217.60 & 1220.50 in extension.

Alternative scenario: below 1205.80 look for further downside with 1203.00 & 1199.50 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
1223.50 / 1220.50 / 1217.60 / 1212.26 (Major) / 1205.80 / 1203 / 1199.50

SILVER MARKET UPDATE

Pivot: 16.07

Our preference: short positions below 16.07 with targets @ 15.87 & 15.79 in extension.

Alternative scenario: above 16.07 look for further upside with 16.16 & 16.26 as targets.

Comment: the upward potential is likely to be limited by the resistance at 16.07.

Supports and resistances:
16.26 / 16.16 / 16.07 / 15.99 (Major) / 15.87 / 15.79 / 15.65

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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