SHANGHAI, Aug. 8 (SMM) -- COMEX December gold futures prices opened at USD 1,648.7/oz and closed at USD 1,651.8/oz on August 5th, down USD 7.2/oz or 0.43% from previous trading day, and down USD 6.95/oz compared with London’s USD 1,658.75/oz. Highest and lowest COMEX prices during the day were USD 1,671/oz and USD 1,644.2/oz.

COMEX September silver futures prices opened at USD 38.8/oz and closed at USD 38.211/oz on August 5th, down USD 1.189/oz or 3.02% from previous trading day, and down USD 1.029/oz compared with London’s USD 39.24/oz. Highest and lowest COMEX prices during the day were USD 39.7/oz and USD 37.8/oz.

Gold and silver prices slightly fell on August 5th as market worries towards the European debt crisis slightly alleviated after European Central Bank signed debt agreements with Italy and Spain. Following a downgrade of US debt rating by Standard & Poor’s, gold prices surged on the morning of August 8th, and SMM expect gold and silver prices to keep rising in the short term.

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