Daily Gold/Silver Market Update: Wednesday June 1, 2016

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

GOLD MARKET UPDATE

Pivot: 1209

Our preference: long positions above 1209.00 with targets @ 1223.00 & 1227.00 in extension.

Alternative scenario: below 1209.00 look for further downside with 1205.00 & 1199.50 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:
1234.50 / 1227 / 1223 / 1215.43(Major) / 1209 / 1205 / 1199.50

SILVER MARKET UPDATE

Pivot: 16.07

Our preference: short positions below 16.07 with targets @ 15.86 & 15.76 in extension.

Alternative scenario: above 16.07 look for further upside with 16.16 & 16.26 as targets.

Comment: the RSI is mixed with a bearish bias.

Supports and resistances:
16.26 / 16.16 / 16.07 / 15.99 (Major) / 15.86 / 15.76 / 15.65

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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