Scotia Bank Daily Gold Market Watch issued in May 6th


Scotia Bank issued its daily market watch commentary and analysis for the gold and silver performance in May 3rd.

Gold opened on Friday, at $1,473 reaching a high $1,481.50 then dropped after the U.S. employment came out to reach $1,456.75 to recover and close at $1,464.75.

A strong resistance is forming at the $1,495 level, which implies that gold prices will move sideways then dip.

The gold-silver ratio closed the week at 61.02.

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