SMM Morning Review - 2012/2/13 Gold & Silver

SHANGHAI, Feb. 13 (SMM) -- COMEX April gold futures opened at USD 1,730.7/oz and closed at USD 1,725.3/oz on February 10, down USD 5.9/oz or 0.34% from the previous trading day, and USD 13.8/oz lower than London’s USD 1,711.5/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,736.4/oz and USD 1,706.6/oz.

COMEX March silver futures opened at USD 33.9/oz and closed at USD 33.595/oz on February 10, down USD 0.32/oz or 0.94% from the previous trading day, and USD 0.045/oz higher than London’s USD 33.55/oz during the day. Highest and lowest COMEX prices during the day were USD 34.1/oz and USD 33.175/oz.

Gold and silver prices slid slightly last Friday as many investors liquidated their holdings on worries towards euro zone and even global economic recoveries before the Greek bailout plan is struck. Though the Greek parliament finally passed its new and strict austerity agreement, market focus was also given to euro zone finance ministers’ meeting this Wednesday, which is the last chance for Greece to secure its second round of bailout. SMM expects gold and silver prices to stay high in the near term.