Scotia Bank Daily Gold Market Watch issued in May 8th


Scotia Bank issued its daily market watch commentary and analysis for the gold and silver performance in May 7th.

Gold opened at $1,461.50, then reached a low of $1,441.25, then recovered some lost ground to close at $1,449. Gold prices retreat for the day by 1.2%

Gold prices technical analysis shows the prices are still range-bound, with several indicators on tendency to test $1,323 low. Only if gold broke the $1,523 multi-year low, it would be the first confirmation of a second bull run.

Gold silver-ratio was at 60.69.

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