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SMM Morning Review - 2011/10/13 Gold & Silver
Oct 13,2011 10:17CST
price review forecast
Source:SMM
COMEX December gold closed at USD 1,682.6/oz on October 12th, up USD 21.6/oz or 1.3%. COMEX December silver closed at USD 32.789/oz on October 12th, up USD 0.791/oz or 2.47%.

SHANGHAI, Oct. 13 (SMM) -- COMEX December gold futures prices opened at USD 1,664.7/oz and closed at USD 1,682.6/oz on October 12th, up USD 21.6/oz or 1.3% from previous trading day, and USD 0.6/oz higher than London’s USD 1,682/oz during the day. Highest and lowest COMEX prices during the day were USD 1,693.8/oz and USD 1,662.1/oz.

COMEX December silver futures prices opened at USD 32.2/oz and closed at USD 32.789/oz on October 12th, up USD 0.791/oz or 2.47% from previous trading day, and USD 0.101/oz lower than London’s USD 32.89/oz during the day. Highest and lowest COMEX prices during the day were USD 33/oz and USD 31.9/oz.

Gold and silver closed higher overnight, on hopes Slovakia will reach a consensus on the EFSF expansion as well as European Committee President Barroso and Euro Group President Jean-Claude Juncker’s detailed plans and steps to solve the European debt crisis. Meanwhile, the US Fed’s meeting minutes showed that QE3 is not impossible. Based on above, SMM expects gold and silver prices to maintain their upward directions in the short term.

gold price
silver price
COMEX

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