Daily Gold/Silver Market Update: Wednesday August 03, 2016

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

GOLD MARKET UPDATE

Pivot: 1354

Our preference: long positions above 1354.00 with targets @ 1372.00 & 1378.00 in extension.

Alternative scenario: below 1354.00 look for further downside with 1346.00 & 1335.00 as targets.

Comment: a support base at 1354.00 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
1385 / 1378 / 1372 / 1362.52 (Major) / 1354 / 1346 / 1335

SILVER MARKET UPDATE

Pivot: 20.37

Our preference: long positions above 20.37 with targets @ 20.80 & 21.00 in extension.

Alternative scenario: below 20.37 look for further downside with 20.10 & 19.85 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
21.30 / 21.00 / 20.80 / 20.62 (Major) / 20.37 / 20.10 / 19.85

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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