Scotia bank daily report 27 – June, 2013

ScotiaBank

Scotia bank daily report mentioned that, the precious metal fell sharply after the FOMC comments last week. The precious metal retract to open at $1234.75 USD/ Ounce, the prices continue to rise until it reaches $1248.50 USD/ Ounce after the US GDP, then we fell to the level of $1229.75 USD/ Ounce.

From a technical point of view Scotia bank said, gold suffered another step back to the level of $1230 USD/ Ounce, and there is a little support between the level of $1155 and 1156 USD/ Ounce, the upper resistance for gold price is at $1322 USD/ Ounce of gold.

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