Standard Bank Daily Gold Price Analysis for May 15th

Standard Bank

The South African Standard Bank issued its analysis for the performance of gold prices in the commodity market for May 15th. The report focused on the study of economic Chinese growth.

Gold prices broke the $1,430 resistance and the next stop is at $1,400.

The USD still pushes the precious metals lower, and more pressure is expected if the US industrial production came as good as it is forecasted. The exception here is the platinum and palladium markets.

Gold prices current support is at $1,411 and $1,400 while the current resistance is at $1,455 and $1,480.

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