ScotiaBank Daily Gold Market Watch for April 26

ScotiaBank

Gold prices showed signs of improvement on Friday for the weekend overall, but it closed lower than the opening price of that day due to profit takings. As gold prices increased 3.9% for the week and decreased 0.6% for Friday.

Gold prices in the market declined 8.8% for this month compared to the last month. Yet, the technical analysis of the bank shows the weakness of the gold prices is starting to slow down, and a sideways movement is to be expected. Nevertheless, a retesting of the $1,322 support is more likely to take place soon.

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