Daily Gold/Silver Market Update: Friday June 17, 2016

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

GOLD MARKET UPDATE

Pivot: 1297

Our preference: short positions below 1297.00 with targets @ 1264.50 & 1256.50 in extension.

Alternative scenario: above 1297.00 look for further upside with 1308.00 & 1315.00 as targets.

Comment: the RSI is mixed with a bearish bias.

Supports and resistances:
1315 / 1308 / 1297 / 1283.21 (Major) / 1264.50 / 1256.50 / 1247

SILVER MARKET UPDATE

Pivot: 17.60

Our preference: short positions below 17.60 with targets @ 16.90 & 16.75 in extension.

Alternative scenario: above 17.60 look for further upside with 17.84 & 18.00 as targets.

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

Supports and resistances:
18.00 / 17.84 / 17.60 / 17.28 (Major) / 16.90 / 16.75 / 16.50

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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