Scotia Bank Daily Gold Market Watch issued in June 5th

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Scotia Bank issued its daily market watch commentary and analysis for the gold and silver performance in June 4th.

Gold price opened the trading session at $1,397 remained around $1,400 mark, until selling pressure pushed the price down to $1,388.50. Gold price recovered quickly to close at $1,379.50.

Speaking technically, gold price continued its sideways movement, from $1,373 to $1,422. Until gold break out this price range, it’s hard to determine a clear bearish or bullish trend. However, the 8-months old bearish trend is still intact.

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