Daily Gold/Silver Market Update: Thursday July 21, 2016

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

GOLD MARKET UPDATE

Pivot: 1323.50

Our preference: short positions below 1323.50 with targets @ 1307.00 & 1300.00 in extension.

Alternative scenario: above 1323.50 look for further upside with 1330.50 & 1336.00 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1323.50.

Supports and resistances:
1336 / 1330.50 / 1323.50 / 1316.21 (Major) / 1307 / 1300 / 1294

SILVER MARKET UPDATE

Pivot: 19.68

Our preference: short positions below 19.68 with targets @ 19.05 & 18.90 in extension.

Alternative scenario: above 19.68 look for further upside with 19.85 & 20.10 as targets.

Comment: technically the RSI is below its neutrality area at 50.

Supports and resistances:
20.10 / 19.85 / 19.68 / 19.25 (Major) / 19.05 / 18.90 / 18.74

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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