SHANGHAI, Aug. 30 (SMM) -- COMEX December gold futures prices opened at USD 1,839.7/oz and closed at USD 1,791.6/oz on August 29th, down USD 5.7/oz or 0.32% from previous trading day. LME was closed on August 29th due to the summer bank holiday in Britain. Highest and lowest COMEX prices during the day were USD 1,839.7/oz and USD 1,779.3/oz.

COMEX September silver futures prices opened at USD 41.7/oz and closed at USD 40.5/oz on August 29th, down USD 0.452/oz or 1.1% from previous trading day. Highest and lowest COMEX prices during the day were USD 41.7/oz and USD 40.5/oz.

After US economic data beat estimates, market optimism increased with demand for precious metals falling to press gold and silver prices slightly lower during the day. At present market focus is when US Fed will use QE3, and SMM expects gold and silver prices to keep fluctuating in the short term while waiting for direction.