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SMM Morning Review - 2011/9/29 Gold & Silver
Sep 29,2011 10:21CST
price review forecast
Source:SMM
COMEX December gold closed at USD 1,618.1/oz, down USD 34.4/oz or 2.08%, COMEX December silver closed at USD 30.134/oz, down USD 1.402/oz or 4.45%.

SHANGHAI, Sept. 29 (SMM) -- COMEX December gold futures prices opened at USD 1,651.3/oz and closed at USD 1,618.1/oz on September 28th, down USD 34.4/oz or 2.08% from previous trading day, and USD 24.9/oz lower than London’s USD 1,643/oz during the day. Highest and lowest COMEX prices during the day were USD 1,671.9/oz and USD 1,600.5/oz.

COMEX December silver futures prices opened at USD 31.9/oz and closed at USD 30.134/oz on September 28th, down USD 1.402/oz or 4.45% from previous trading day, and USD 0.906/oz lower than London’s USD 31.04/oz during the day. Highest and lowest COMEX prices during the day were USD 32.88/oz and USD 29.495/oz.

Due to worries towards a liquidity shortage from a possible debt default in the euro zone, market capital flowed to the US dollar overnight for protection, with the US dollar index climbing and gold and silver prices closing lower. Greece is scheduled to resume talks with ECB, IMF and EU officials today. German people will also vote on the European bailout fund expansion today. SMM expects gold and silver to remain fluctuating within narrow ranges in the short term as investors focus on the solution for the European debt crisis. The two metals will also be highly sensitive to changes in the US dollar index.

gold price
silver price
COMEX

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