The South African Standard Bank issued its analysis for the performance of gold prices in the commodity market for May 14th. The report focused on the lead market.
Gold struggled at $1,430 but lose to the USD new weight. The physical demand wasn’t enough to hold the strong bear attack.
The U.S. industrial production number is to be announced tomorrow, which might bring more bad news to the gold market.
As long as the bulls can’t push the prices above the $1,450 level, the gold bears have the advantage.
Gold current support is at $1,411 and $1,400 while the current resistance $1,455 and $1,480.