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SMM Morning Review - 2011/8/17 Gold & Silver
Aug 17,2011 09:40CST
price review forecast
Source:SMM
COMEX December gold futures opened at USD 1,768.3/oz and closed at USD 1,785/oz on August 16th, up USD 16.5/oz or 0.93%

SHANGHAI, Aug. 17 (SMM) -- COMEX December gold futures prices opened at USD 1,768.3/oz and closed at USD 1,785/oz on August 16th, up USD 16.5/oz or 0.93% from previous trading day, and up USD 2.5/oz compared with London’s USD 1,782.5/oz. Highest and lowest COMEX prices during the day were USD 1,789.6/oz and USD 1,764.2/oz.

COMEX September silver futures prices opened at USD 39.9/oz and closed at USD 39.8/oz on August 16th, up USD 0.5/oz or 1.27% from previous trading day, and up USD 0.44/oz compared with London’s USD 39.36/oz. Highest and lowest COMEX prices during the day were USD 40.1/oz and USD 39.3/oz.

The France-Germany talk failed to produce a practical solution for the European debt crisis overnight. The EU GDP only grew by 0.2% in the second quarter, which was a new low since 2Q 2009, indicating the European economy is slowing down. As a result, gold price closed slightly higher due to increasing market worries. However, SMM still expects gold and silver prices to keep fluctuating at high levels in the short term.

gold price
silver price

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