Daily Gold/Silver Market Update: Friday May 20, 2016

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

GOLD MARKET UPDATE

Pivot: 1261.50

Our preference: short positions below 1261.50 with targets @ 1244.00 & 1237.30 in extension.

Alternative scenario: above 1261.50 look for further upside with 1269.00 & 1276.00 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1261.50.

Supports and resistances:
1276 / 1269 / 1261.50 / 1254.26 (Major) / 1244 / 1237.30 / 1231

SILVER MARKET UPDATE

Pivot: 16.75

Our preference: short positions below 16.75 with targets @ 16.13 & 15.95 in extension.

Alternative scenario: above 16.75 look for further upside with 16.92 & 17.14 as targets.

Comment: as long as 16.7500 is resistance, likely decline to 16.13.

Supports and resistances:
17.14 / 16.92 / 16.75 / 16.49 (Major) / 16.13 / 15.95 / 15.75

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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