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.