Scotia Bank issued its daily market watch commentary and analysis for the gold and silver performance in June 12th.
Gold opened the trading session at $1,377 and fell to touch a low at $1,372.75 then jumping to reach a $1,394 high on weaker USD. Gold price closed the session around $1,392/ounce.
The sideways trading of gold continues despite gaining and losing momentum. Moreover, the bearish trend still dominates the daily chart.
The support at the bottom of the range is currently around $1,354 while the resistance upwards is at $1,424.
Gold-silver ratio is at 63.72.