Scotia Bank Daily Gold Market Watch issued in May 15th

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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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