Daily Gold/Silver Market Update: Tuesday August 02, 2016

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

GOLD MARKET UPDATE

Pivot: 1343

Our preference: long positions above 1343.00 with targets @ 1362.00 & 1367.00 in extension.

Alternative scenario: below 1343.00 look for further downside with 1336.00 & 1328.00 as targets.

Comment: a support base at 1343.00 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
1372 / 1367 / 1362 / 1349.40 (Major) / 1343 / 1336 / 1328

SILVER MARKET UPDATE

Pivot: 20.27

Our preference: long positions above 20.27 with targets @ 20.64 & 20.80 in extension.

Alternative scenario: below 20.27 look for further downside with 20.00 & 19.75 as targets.

Comment: intraday technical indicators are mixed and call for caution.

Supports and resistances:
21.00 / 20.80 / 20.64 / 20.38 (Major) / 20.27 / 20.00 / 19.75

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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