Daily Gold/Silver Market Update: Wednesday July 20, 2016

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

GOLD MARKET UPDATE

Pivot: 1337

Our preference: short positions below 1337.00 with targets @ 1320.00 & 1312.00 in extension.

Alternative scenario: above 1337.00 look for further upside with 1342.00 & 1350.00 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1337.00.

Supports and resistances:
1350 / 1342 / 1337 / 1333 (Major) / 1320 / 1312 / 1305

SILVER MARKET UPDATE

Pivot: 20.10

Our preference: short positions below 20.10 with targets @ 19.68 & 19.56 in extension.

Alternative scenario: above 20.1000 look for further upside with 20.24 & 20.34 as targets.

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

Supports and resistances:
20.34 / 20.24 / 20.10 / 19.91 (Major) / 19.68 / 19.56 / 19.43

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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