Daily Gold/Silver Market Update: Thursday July 7, 2016

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

GOLD MARKET UPDATE

Pivot: 1353

Our preference: long positions above 1353.00 with targets @ 1379.00 & 1386.00 in extension.

Alternative scenario: below 1353.00 look for further downside with 1337.50 & 1328.00 as targets.

Comment: the RSI is mixed with a bullish bias.

Supports and resistances:
1393 / 1386 / 1379 / 1367.25 (Major) / 1353 / 1337.50 / 1328

SILVER MARKET UPDATE

Pivot: 19.64

Our preference: long positions above 19.64 with targets @ 20.75 & 21.13 in extension.

Alternative scenario: below 19.64 look for further downside with 19.00 & 18.68 as targets.

Comment: a support base at 19.64 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
21.70 / 21.13 / 20.75 / 20.12 (Major) / 19.64 / 19.00 / 18.68

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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