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SMM Morning Review - 2011/9/7 Gold & Silver
Sep 7,2011 10:17CST
price review forecast
Source:SMM
COMEX December gold closed at USD 1,873.3/oz on September 6th, down USD 29.8/oz or 1.57%, COMEX December silver futures closed at USD 41.868/oz, down USD 1.082/oz or 2.52%.

SHANGHAI, Sept. 7 (SMM) -- COMEX December gold futures prices opened at USD 1,903.9/oz and closed at USD 1,873.3/oz on September 6th, down USD 29.8/oz or 1.57% from previous trading day, and USD 8.9/oz lower than London’s USD 1,895/oz during the day. Highest and lowest COMEX prices during the day were USD 1,922.6/oz and USD 1,869.7/oz.

COMEX December silver futures prices opened at USD 43/oz and closed at USD 41.868/oz on September 6th, down USD 1.082/oz or 2.52% from previous trading day, and USD 0.018/oz higher than London’s USD 41.85/oz during the day. Highest and lowest COMEX prices during the day were USD 43.3/oz and USD 41.7/oz.

After Switzerland’s central bank announced to set a cap on the value of the franc against the euro and that it was prepared to spend an “unlimited” amount to defend it, Swiss franc plunged with the US dollar rallying, thereby eroding demand of gold among investors. As a result, gold prices quickly fell after hitting a new high and silver followed suite. As uncertainties still exist for global economy, SMM expect gold and silver to remain strong in the short term after slight adjustments.

gold price
silver price

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