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SMM Morning Review - 2011/8/15 Gold & Silver
Aug 15,2011 09:50CST
price review forecast
Source:SMM
SHANGHAI, Aug. 15 (SMM) -- COMEX December gold futures prices opened at USD 1,767.2/oz and closed at USD 1,742.6/oz on August 12th,

SHANGHAI, Aug. 15 (SMM) -- COMEX December gold futures prices opened at USD 1,767.2/oz and closed at USD 1,742.6/oz on August 12th, down USD 8.9/oz or 0.51% from previous trading day, and up USD 6.6/oz compared with London’s USD 1,736/oz. Highest and lowest COMEX prices during the day were USD 1,770.1/oz and USD 1,728.4/oz.

COMEX September silver futures prices opened at USD 38.7/oz and closed at USD 39.114/oz on August 12th, up USD 0.414/oz or 1.07% from previous trading day, and up USD 0.824/oz compared with London’s USD 38.29/oz. Highest and lowest COMEX prices during the day were USD 39.2/oz and USD 38.3/oz.

Investors successively exited the gold market after profit-taking on August 12th, due to higher risk appetite supported by naked short selling ban by some European countries and higher margin rate set by Chicago Mercantile Exchange. As a result, gold prices fell after previous continued climb, and silver prices slightly rose supported by buying at lower levels. SMM expects gold and silver prices to keep fluctuating at current-levels in the short term.


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