Standard Bank Daily Gold Price Analysis for May 7th

Standard Bank

The South African Standard Bank issued its analysis for the performance of gold prices in the commodity market for May 7th. The report focused on Japan’s imports and exports of platinum.

The bank analysts saw gold trades remains range-bound.

The physical demand from Asia affected Shanghai’s physical gold premiums. It rose to reach close to 15$ level for kilo-bars.

Gold current support is at $1,451 and $1,431. Resistance is at $1,500 and $1,521.

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