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SMM Morning Review - 2011/8/24 Gold & Silver
Aug 24,2011 09:59CST
price review forecast
Source:SMM
COMEX December gold futures closed USD 30.6/oz or 1.62% lower at USD 1,861.3/oz on August 23rd, COMEX December silver futures closed USD 1.034/oz or 2.39% lower at USD 42.291/oz.

SHANGHAI, Aug. 24 (SMM) -- COMEX December gold futures prices opened at USD 1,901.5/oz and closed at USD 1,861.3/oz on August 23rd, down USD 30.6/oz or 1.62% from previous trading day, and USD 14.7/oz lower than London’s USD 1,876/oz during the day. Highest and lowest COMEX prices during the day were USD 1,913.7/oz and USD 1,826/oz.

COMEX December silver futures prices opened at USD 43.8/oz and closed at USD 42.291/oz on August 23rd, down USD 1.034/oz or 2.39% from previous trading day, and USD 0.589/oz lower than London’s USD 42.88/oz during the day. Highest and lowest COMEX prices during the day were USD 44.2/oz and USD 41.52/oz.

Profit taking drastically increased during the day after gold surged to record highs and gold and silver prices fell in response. Meanwhile strong rebound in European and US stock prices also added to downward pressure for the two metals. Nevertheless, SMM expect gold and silver prices to keep moving at high levels while waiting for remarks of US Fed president on August 26th Friday.

gold price
silver price

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