Daily Gold/Silver Market Update: Monday May 30, 2016

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

GOLD MARKET UPDATE

Pivot: 1223

Our preference: short positions below 1223.00 with targets @ 1190.00 & 1181.00 in extension.

Alternative scenario: above 1223.00 look for further upside with 1234.50 & 1242.50 as targets.

Comment: the RSI is bearish and calls for further decline.

Supports and resistances:
1242.50 / 1234.50 / 1223 / 1202.48(Major) / 1190 / 1181 / 1170

SILVER MARKET UPDATE

Pivot: 16.20

Our preference: short positions below 16.20 with targets @ 15.80 & 15.65 in extension.

Alternative scenario: above 16.20 look for further upside with 16.36 & 16.48 as targets.

Comment: the RSI is capped by a bearish trend line.

Supports and resistances:
16.48 / 16.36 / 16.20 / 15.96 (Major) / 15.80 / 15.65 / 15.50

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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