Scotia Bank Daily Gold Market Watch issued in June 10th

ScotiaBank

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.

Full Report