Scotia Bank Daily Gold Market Watch issued in May 14th


Scotia Bank issued its daily market watch commentary and analysis for the gold and silver performance in May 13th.

Gold opened Monday’s session at $1,435.5, took a quick dive to the $1,428.75 level, then recovered back to close at the same opening level of $1,435.5.

Gold stayed in the same range of trading, with technical indicators favoring a downtrend. Now, it’s up to the news and the performance of other equities. The current support doesn’t look like it could handle the selling pressure, and the $1,322 low may be the next line of defense of the gold bull.

Gold-silver ratio for the day was 60.52.

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