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SMM Morning Review – 2011/7/29 Gold & Silver
Jul 29,2011 10:19CST
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Source:SMM
SHANGHAI, Jul. 29 (SMM) -- COMEX December gold futures prices opened at USD 1,617/oz and closed at USD 1,616.2/oz on July 28th,

SHANGHAI, Jul. 29 (SMM) -- COMEX December gold futures prices opened at USD 1,617/oz and closed at USD 1,616.2/oz on July 28th, down USD 1.1/oz or 0.07% from previous trading day, and up USD 2.7/oz compared with London’s USD 1,613.5/oz during the day. Highest and lowest COMEX prices during the day were USD 1,621.5/oz and USD 1,607.7/oz.

COMEX September silver futures prices opened at USD 40.3/oz and closed at USD 39.794/oz on July 28th, down USD 0.774/mt or 1.91% from previous trading day, and up USD 0.396/oz compared with London’s USD 40.19/oz during the day. Highest and lowest COMEX prices during the day were USD 40.5/oz and USD 39.4/oz.

As market worries rose due to US debt talk dilemma, investors were cautiously waiting for voting results for Boehner’s debt plan from the US House of Representatives. Meanwhile, profit-making pressure also appeared after gold and silver prices reached high levels. As a result, gold and silver prices slightly fell. SMM expects gold and silver prices to keep fluctuating at high levels before the US debt issue is resolved.


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