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 analysts saw gold exchange remained range-bound. While the Asian demand stay strong. There is a shortage in physical gold coins, gold nuggets and gold bullions in Singapore, Hong Kong and Tokyo.

Gold current support levels are at $1,451 and $1,431. While resistance is at $1,500 and $1,521.

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