Scotia Bank Daily Gold Market Watch for June 6th

ScotiaBank

Scotia Bank issued its daily market watch commentary and analysis for the gold and silver performance in June 6th.

Gold opened the session today at $1,404.75/ounce then slide to $1,395/ounce. The yellow metal peaked to $1,423.25/ounce on the ECB news of continuing the current stimulus measures. Gold price eased to close at $1,415.50/ounce.

On the technical side, gold current price ups was contained at $1,424 on the Fibonacci indicator. The still intact bearish downtrend is weakening, and bullish one is forming slowly.

Gold-silver ratio was at 62.40.

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