Daily Gold/Silver Market Update: Tuesday July 26, 2016

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

GOLD MARKET UPDATE

Pivot: 1312

Our preference: long positions above 1312.00 with targets @ 1330.00 & 1334.00 in extension.

Alternative scenario: below 1312.00 look for further downside with 1304.50 & 1300.00 as targets.

Comment: a support base at 1312.00 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
1338.50 / 1334 / 1330 / 1319.51 (Major) / 1312 / 1304.50 / 1300

SILVER MARKET UPDATE

Pivot: 19.30

Our preference: long positions above 19.3000 with targets @ 19.8500 & 20.1000 in extension.

Alternative scenario: below 19.3000 look for further downside with 19.1900 & 19.0000 as targets.

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

Supports and resistances:
20.25 / 20.10 / 19.85 / 19.59 (Major) / 19.30 / 19.19 / 19.00

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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