Scotia Bank Daily Gold Market Watch for April 29

Gold prices recovered in April 29 by 0.6%, totaling an increase for the last 5 days by 3.1% and shrinking the gold prices loss in the past 30-days to reach 8%. The reason behind this slow recovery is the improved performance in the U.S. equities and Pending Home Sales.

The technical analysis of the bank showed several buying signals. Yet, they still wait for a retesting of $1,322 as a precaution and a confirmation sign for an uptrend.

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