Daily Gold/Silver Market Update: Tuesday, May 17, 2016

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

GOLD MARKET UPDATE

Pivot: 1289

Our preference: short positions below 1289.00 with targets @ 1270.60 & 1265.00 in extension.
Alternative scenario: above 1289.00 look for further upside with 1295.00 & 1302.00 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
Supports and resistances:
1302 / 1295 / 1289 / 1279.10(Major) / 1270.60 / 1265 / 1261.50

SILVER MARKET UPDATE

Pivot: 17.39

Our preference: short positions below 17.3900 with targets @ 17.0600 & 16.9300 in extension.
Alternative scenario: above 17.3900 look for further upside with 17.5100 & 17.5800 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Supports and resistances:
17.58 / 17.51 / 17.39 / 17.26 (Major) / 17.06 / 16.93 / 16.80

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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