Daily Gold/Silver Market Update: Friday July 8, 2016

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

GOLD MARKET UPDATE

Pivot: 1369

Our preference: short positions below 1369.00 with targets @ 1345.00 & 1337.50 in extension.

Alternative scenario: above 1369.00 look for further upside with 1379.00 & 1386.00 as targets.

Comment: the RSI is mixed to bearish.

Supports and resistances:
1386 / 1379 / 1369 / 1358.21 (Major) / 1345 / 1337.50 / 1328

SILVER MARKET UPDATE

Pivot: 20.27

Our preference: short positions below 20.27 with targets @ 19.26 & 19.00 in extension.

Alternative scenario: above 20.27 look for further upside with 20.75 & 21.13 as targets.

Comment: The declining 50-period moving average is playing resistance role and maintains the downside bias.

Supports and resistances:
21.13 / 20.75 / 20.27 / 19.71 (Major) / 19.26 / 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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