The South African Standard Bank issued its analysis for the performance of gold prices in the commodity market for May 8th. The report focused on how coal is doing in the energy market.
Still, gold haven’t found an exit from its current range of trading. Yet, gold has showed signs of recovery backed by physical demand from Asia. Shanghai’s Gold Exchange (SGE) premiums jumped today to reach $18.
Gold current support stays at $1,451 and $1,431. While gold technical resistance is $1,489 and $1,500.