Daily Gold/Silver Market Update: Wednesday June 29, 2016

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

GOLD MARKET UPDATE

Pivot: 1323.50

Our preference: short positions below 1323.50 with targets @ 1305.00 & 1294.00 in extension.

Alternative scenario: above 1323.50 look for further upside with 1345.00 & 1359.00 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1323.50.

Supports and resistances:
1359 / 1345 / 1323.50 / 1318.74 (Major) / 1305 / 1294 / 1272

SILVER MARKET UPDATE

Pivot: 17.70

Our preference: long positions above 17.70 with targets @ 18.15 & 18.32 in extension.

Alternative scenario: below 17.70 look for further downside with 17.49 & 17.37 as targets.

Comment: the RSI broke above a bearish trend line.

Supports and resistances:
18.45 / 18.32 / 18.15 / 18.00 (Major) / 17.70 / 17.49 / 17.37

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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