Daily Gold/Silver Market Update: Friday July 15, 2016

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

GOLD MARKET UPDATE

Pivot: 1342

Our preference: short positions below 1342.00 with targets @ 1320.00 & 1312.00 in extension.

Alternative scenario: above 1342.00 look for further upside with 1350.00 & 1357.50 as targets.

Comment: the RSI is mixed with a bearish bias.

Supports and resistances:
1357.50 / 1350 / 1342 / 1327.08 (Major) / 1320 / 1312 / 1305

SILVER MARKET UPDATE

Pivot: 20.47

Our preference: short positions below 20.47 with targets @ 19.93 & 19.78 in extension.

Alternative scenario: above 20.47 look for further upside with 20.75 & 21.13 as targets.

Comment: the upward potential is likely to be limited by the resistance at 20.47.

Supports and resistances:
21.13 / 20.75 / 20.47 / 20.19 (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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