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SMM Morning Review - 2011/11/15 Gold & Silver
Nov 15,2011 10:33CST
smm insight
Source:SMM
COMEX December gold closed at USD 1,778.4/oz on November 14th, down USD 9.7/oz or 0.54%, COMEX December silver closed at USD 34.024/oz, down USD 0.658/oz or 1.9%.

SHANGHAI, Nov. 15 (SMM) -- COMEX December gold futures opened at USD 1,790/oz and closed at USD 1,778.4/oz on November 14th, down USD 9.7/oz or 0.54% from the previous trading day, but USD 2.4/oz higher than London’s USD 1,776/oz during the day. Highest and lowest COMEX prices during the day were USD 1,799.5/oz and USD 1,765.4/oz.

COMEX December silver futures opened at USD 34.8/oz and closed at USD 34.024/oz on November 14th, down USD 0.658/oz or 1.9% from the previous trading day, but USD 0.356/oz higher than London’s USD 34.38/oz during the day. Highest and lowest COMEX prices during the day were USD 34.9/oz and USD 34.024/oz.

After Italian debt yield surged to a record high, investors doubted whether the country is able to implement austerity measures. Further more, according to Moody’s, last week’s EFSF bonds were ill-responded, indicating limited ability of EFSF to support the European debt market. Gold and silver closed lower as a result of above negative news. SMM expects fluctuation in gold and silver prices to continue in the short term as investors are still uncertain towards results of the Euro zone bailout plan.

gold price
silver price
COMEX

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