Scotia Bank issued its daily market watch commentary and analysis for the gold and silver performance in May 22nd.
Gold started the trading secession opening at $1,391 then price explode to reach $1,413.5 on Bernanke’s initial comments on premature ending of the QE program would be dangerous.
Gold price sank to touch $1,367.5 after implication of slowing the pace of bonds purchasing the next few meeting. Gold price closed at $1,368.5.
Bargain hunting was the dominate view over a change in trends, as gold price couldn’t hold its ground.