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SMM Morning Review – 2011/8/2 Gold & Silver
Aug 2,2011 10:29CST
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Source:SMM
SHANGHAI, Aug. 2 (SMM) -- COMEX December gold futures prices opened at USD 1,609.8/oz and closed at USD 1,621.7/oz on August 1st

SHANGHAI, Aug. 2 (SMM) -- COMEX December gold futures prices opened at USD 1,609.8/oz and closed at USD 1,621.7/oz on August 1st, down USD 9.5/oz or 0.58% from previous trading day, and down USD 1.3/oz compared with London’s USD 1,623/oz during the day. Highest and lowest COMEX prices during the day were USD 1,633.3/oz and USD 1,609.8/oz.

COMEX September silver futures prices opened at USD 39.6/oz and closed at USD 39.309/oz on August 1st, down USD 0.799/mt or 1.99% from previous trading day, and near to London’s USD 39.31/oz during the day. Highest and lowest COMEX prices during the day were USD 40/oz and USD 39.2/oz.

Optimism in the market brought about by the US debt agreement quickly faded due to weak manufacturing data and worries that the country might lose its AAA rating. As a result, gold prices gradually rose, and SMM expects gold and silver prices to keep fluctuating in the short term.


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