Daily Gold/Silver Market Update: Monday July 11, 2016

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

GOLD MARKET UPDATE

Pivot: 1357

Our preference: long positions above 1357.00 with targets @ 1375.00 & 1383.00 in extension.

Alternative scenario: below 1357.00 look for further downside with 1350.00 & 1342.00 as targets.

Comment: the RSI broke above a declining trend line.

Supports and resistances:
1393 / 1383 / 1375 / 1367 (Major) / 1357 / 1350 / 1342

SILVER MARKET UPDATE

Pivot: 19.94

Our preference: long positions above 19.9400 with targets @ 21.1300 & 21.4200 in extension.

Alternative scenario: below 19.9400 look for further downside with 19.4000 & 19.0000 as targets.

Comment: the RSI is bullish and calls for further upside.

Supports and resistances:
22.00 / 21.42 / 21.13 / 20.55 (Major) / 19.94 / 19.40 / 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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