Daily Gold/Silver Market Update: Thursday June 16, 2016

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

GOLD MARKET UPDATE

Pivot: 1290

Our preference: long positions above 1290.00 with targets @ 1308.00 & 1315.00 in extension.

Alternative scenario: below 1290.00 look for further downside with 1278.00 & 1265.00 as targets.

Comment: the RSI advocates for further advance.

Supports and resistances:
1323 / 1315 / 1308 / 1302.70 (Major) / 1290 / 1278 / 1265

SILVER MARKET UPDATE

Pivot: 17.45

Our preference: long positions above 17.4500 with targets @ 18.0000 & 18.2500 in extension.

Alternative scenario: below 17.4500 look for further downside with 17.1800 & 16.9100 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
18.45 / 18.25 / 18.00/ 17.75 (Major) / 17.45 / 17.18 / 16.91

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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