Daily Gold/Silver Market Update: Wednesday July 13, 2016

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

GOLD MARKET UPDATE

Pivot: 1350

Our preference: short positions below 1350.00 with targets @ 1320.00 & 1312.00 in extension.

Alternative scenario: above 1350.00 look for further upside with 1363.00 & 1375.00 as targets.

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

Supports and resistances:
1375 / 1363 / 1350 / 1337.13 (Major) / 1320 / 1312 / 1305

SILVER MARKET UPDATE

Pivot: 20.41

Our preference: short positions below 20.41 with targets @ 19.93 & 19.78 in extension.

Alternative scenario: above 20.41 look for further upside with 20.75 & 21.13 as targets.

Comment: the upward potential is likely to be limited by the resistance at 20.41.

Supports and resistances:
21.13 / 20.75 / 20.41 / 20.29 (Major) / 19.93 / 19.78 / 19.56

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