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

SHANGHAI, Sept. 15 (SMM) -- COMEX December gold futures prices opened at USD 1,836.8/oz and closed at USD 1,826.5/oz on September 14th, down USD 3.6/oz or 0.2% from previous trading day, and USD 8/oz higher than London’s USD 1,818.5/oz during the day. Highest and lowest COMEX prices during the day were USD 1,848/oz and USD 1,826.5/oz.

COMEX December silver futures prices opened at USD 41.1/oz and closed at USD 40.533/oz on September 14th, down USD 0.66/oz or 1.6% from previous trading day, and USD 0.697/oz lower than London’s USD 41.23/oz during the day. Highest and lowest COMEX prices during the day were USD 41.4/oz and USD 40.315/oz.

The announcement by French, Germany and Greek leaders saying that Greece will not quit from the euro zone and rigid implementation of all reforms in Greece appealed, combined with remarks from EU Committee President to speed up introduction of euro zone bonds, helped boost investor risk appetite, with gold and silver closing slightly lower during the day. However, gold and silver are expected to continue fluctuation as the European debt crisis remained uncertain.