Scotia Bank Daily Gold Market Watch issued in May 15th


Scotia Bank issued its daily market watch commentary and analysis for the gold and silver performance in May 14th.

Gold prices opened at $1,426.75 and declined to a low of $1,420.75, it rallied to $1,438.25 thanks to the Asian trading, but the decent performance of equities drove gold price to close at $1,425.50 making a drop by 0.2% over the day.

The trading range of a strong support and decent resistance seems to widen up. The strong support is at $1,322, the April 16th low, and the resistance at $1,488, May 3rd high.

Gold-silver ratio is at 60.91.

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