SMM Morning Review - 2011/9/14 Gold & Silver

SHANGHAI, Sept. 14 (SMM) -- COMEX December gold futures prices opened at USD 1,817/oz and closed at USD 1,830.1/oz on September 13th, up USD 16.8/oz or 0.93% from previous trading day, and USD 10.1/oz higher than London’s USD 1,820/oz during the day. Highest and lowest COMEX prices during the day were USD 1,847.3/oz and USD 1,794.8/oz.

COMEX December silver futures prices opened at USD 40.4/oz and closed at USD 41.193/oz on September 13th, up USD 0.976/oz or 2.43% from previous trading day, and USD 1.173/oz higher than London’s USD 40.02/oz during the day. Highest and lowest COMEX prices during the day were USD 41.355/oz and USD 40.1/oz.

Gold and silver closed slightly higher during the day as a result of short-covering caused by falling US dollar index and climbing crude futures prices. SMM expects gold and silver to maintain fluctuation as uncertainties remain huge considering ongoing negotiations on debt default and bailout in Europe.