SMM Morning Review - 2011/8/10 Gold & Silver

SHANGHAI, Aug. 10 (SMM) -- COMEX December gold futures prices opened at USD 1,720/oz and closed at USD 1,743/oz on August 9th, up USD 29.8/oz or 1.74% from previous trading day, and up USD 7/oz compared with London’s USD 1,736/oz. Highest and lowest COMEX prices during the day were USD 1,774.2/oz and USD 1,720/oz.

COMEX September silver futures prices opened at USD 39.1/oz and closed at USD 37.883/oz on August 9th, down USD 1.497/oz or 3.80% from previous trading day, and down USD 0.477/oz compared with London’s USD 38.36/oz. Highest and lowest COMEX prices during the day were USD 39.5/oz and USD 37.3/oz.

US FED announced on August 9th following the FMOC meeting that it planed to maintain current low interest rates until mid 2013, which boosted risk aversion sentiment among investors, and gold prices closed higher despite drastic fluctuation caused by profit-taking. Silver prices closed slightly lower due to dime economic outlook. SMM expects gold to remain strong and silver to keep fluctuating in the short term.

Copyright © SMM. All Rights Reserved.

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn