Daily Gold/Silver Market Update: Monday July 4, 2016

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

GOLD MARKET UPDATE

Pivot: 1328

Our preference: long positions above 1328.00 with targets @ 1359.00 & 1376.00 in extension.

Alternative scenario: below 1328.00 look for further downside with 1320.00 & 1313.00 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
1393 / 1376 / 1359 / 1346.32 (Major) / 1328 / 1320 / 1313

SILVER MARKET UPDATE

Pivot: 19.64

Our preference: long positions above 19.64 with targets @ 21.13 & 21.57 in extension.

Alternative scenario: below 19.64 look for further downside with 19.00 & 18.68 as targets.

Comment: the RSI is supported by a rising trend line. The rising 20-period and 50-period moving averages are heading upward.

Supports and resistances:
22.00 / 21.57 / 21.13 / 20.27 (Major) / 19.64 / 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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