Scotia Bank issued its daily market watch commentary and analysis for the gold and silver performance in June 7th.
Gold price opened the session at $1,409 and gained ahead of the US employment numbers report to reach a high of $1,417 but slips to $1,377.50 low and closed the session at $1,383.75.
This week gold price closure was a low after 2 small ups. The ADX trend indicator is currently at 44.34, on the background of any number above 20 is trending.
The key support is May’s low at $1,338 and the key resistance is at $1,423, the high of several weeks range.
Gold-silver ratio was strong at 63.83.