Daily Gold/Silver Market Update: Thursday July 14, 2016

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

GOLD MARKET UPDATE

Pivot: 1350

Our preference: short positions below 1350.00 with targets @ 1335.00 & 1327.00 in extension.

Alternative scenario: above 1350.00 look for further upside with 1363.00 & 1375.00 as targets.

Comment: the RSI advocates for further downside.

Supports and resistances:
1375 / 1363 / 1350 / 1339.70 (Major) / 1335 / 1327 / 1320

SILVER MARKET UPDATE

Pivot: 20.47

Our preference: short positions below 20.4700 with targets @ 19.9300 & 19.7800 in extension.

Alternative scenario: above 20.4700 look for further upside with 20.7500 & 21.1300 as targets.

Comment: the upward potential is likely to be limited by the resistance at 20.4700.

Supports and resistances:
21.13 / 20.75 / 20.47 / 20.26 (Major) / 19.93 / 19.78 / 19.56

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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