Standard Bank Daily Gold Price Analysis for June 13th

Standard Bank

The South African Standard Bank issued its analysis for the performance of gold prices in the commodity market for June 13th.  The report focused on analyzing the Chinese commodities.

The weaker USD provided some support to gold prices. Moreover, the slump in the equity markets also helped gold to show some resistance to the selling pressure. The result of these circumstances was gold price staying range-bound.

Gold price current technical support is $1,375 then $1,366 while the resistance is at $1,388 then $1,400.

Full Report