Standard Bank Daily Gold Price Analysis for May 28th

Standard Bank

The South African Standard Bank issued its analysis for the performance of gold prices in the commodity market for May 28th. The bank’s report focused on Swiss Platinum Metal Group exports.

Gold couldn’t break above $1,400 because of the equities gains attracted investors over gold. The U.S. equity market shows signs of firm opening after the European market.

There is quite the activity in the option markets around $1,400 and $1,450 forming a stronger technical resistance.

Gold current support is at $1,358 and $1,326 while current resistance is at $1,400 and $1,419.

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