Daily Gold/Silver Market Update: Thursday August 04, 2016

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

GOLD MARKET UPDATE

Pivot: 1361.50

Our preference: short positions below 1361.50 with targets @ 1346.00 & 1338.00 in extension.

Alternative scenario: above 1361.50 look for further upside with 1367.40 & 1372.00 as targets.

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

Supports and resistances:
1372 / 1367.40 / 1361.50 / 1351.60 (Major) / 1346 / 1338 / 1328

SILVER MARKET UPDATE

Pivot: 20.55

Our preference: short positions below 20.55 with targets @ 19.93 & 19.74 in extension.

Alternative scenario: above 20.55 look for further upside with 20.72 & 20.87 as targets.

Comment: the RSI has broken down its 30 level.

Supports and resistances:
20.87 / 20.72 / 20.55 / 20.12 (Major) / 19.93 / 19.74 / 19.50

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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