Scotia Bank Daily Gold Market Watch issued in June 5th


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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