Daily Gold/Silver Market Update: Tuesday July 5, 2016

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

GOLD MARKET UPDATE

Pivot: 1335

Our preference: long positions above 1335.00 with targets @ 1354.00 & 1359.00 in extension.

Alternative scenario: below 1335.00 look for further downside with 1328.00 & 1320.50 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:
1364 / 1359 / 1354 / 1343.79 (Major) / 1335 / 1328 / 1320.50

SILVER MARKET UPDATE

Pivot: 19.64

Our preference: long positions above 19.64 with targets @ 20.75 & 21.13 in extension.

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

Comment: a support base at 19.64 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
21.57 / 21.13 / 20.75 / 19.98 (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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