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SMM Morning Review - 2011/8/10 Gold & Silver
Aug 10,2011 09:39CST
price review forecast
Source:SMM
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,

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.


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