Daily Gold/Silver Market Update: Wednesday June 8, 2016

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

GOLD MARKET UPDATE

Pivot: 1234.50

Our preference: long positions above 1234.50 with targets @ 1251.00 & 1258.00 in extension.

Alternative scenario: below 1234.50 look for further downside with 1223.00 & 1217.00 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
1261 / 1258 / 1251 / 1247.59 (Major) / 1234.50 / 1223 / 1217

SILVER MARKET UPDATE

Pivot: 16.22

Our preference: long positions above 16.22 with targets @ 16.55 & 16.65 in extension.

Alternative scenario: below 16.22 look for further downside with 16.15 & 16.02 as targets.

Comment: the RSI is mixed with a bullish bias.

Supports and resistances:
16.75 / 16.65 / 16.55 / 16.45 (Major) / 16.22 / 16.15 / 16.02

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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