SMM Morning Review - 2012/2/3 Gold & Silver

SHANGHAI, Feb. 3 (SMM) -- COMEX April gold futures opened at USD 1,748.8/oz and closed at USD 1,759.3/oz on February 2, up USD 9.8/oz or 0.56% from the previous trading day, and USD 8.3/oz higher than London’s USD 1,751/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,763.1/oz and USD 1,745.2/oz.

COMEX March silver futures opened at USD 33.8/oz and closed at USD 34.175/oz on February 2, up USD 0.368/oz or 1.09% from the previous trading day, and USD 0.505/oz higher than London’s USD 33.67/oz during the day. Highest and lowest COMEX prices during the day were USD 34.4/oz and USD 33.5/oz.

Gold and silver advanced on Thursday firstly supported by a further drop in US new jobless claims and a new low of continued such claims since September 6, 2008, and then backed by Fed president Bernanke’s pledge to make best efforts to protect the US economy against impact from the European debt crisis. Today’s market focus will be the US non-farm payroll data in January and the two precious metals are expected to see more gains.