SMM Morning Review - 2012/2/15 Gold & Silver

SMM Insight 10:01:28AM Feb 15, 2012 Source:SMM

SHANGHAI, Feb. 15 (SMM) -- COMEX April gold futures opened at USD 1,723.2/oz and closed at USD 1,717.7/oz on February 14, down USD 7.2/oz or 0.42% from the previous trading day, and USD 4.3/oz lower than London’s USD 1,722/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,727.2/oz and USD 1,715.9/oz.

COMEX March silver futures opened at USD 33.7/oz and closed at USD 33.348/oz on February 14, down USD 0.374/oz or 1.11% from the previous trading day, and USD 0.162/oz lower than London’s USD 33.51/oz during the day. Highest and lowest COMEX prices during the day were USD 33.7/oz and USD 33.3/oz.

A lack of express promise for new austerity measures from Greece led to change of today’s euro zone Finance Ministers’ meeting into a teleconference. Investor worries got more support after Moody’s downgraded Spain and some other euro zone nations, leading to slight losses in gold and silver. Uncertainty seems still a prominent feature of euro zone debt. As such, SMM expects gold and silver prices to see lasting volatility in the near term and may more possibly show losses.

SMM Morning Review - 2012/2/15 Gold & Silver

SMM Insight 10:01:28AM Feb 15, 2012 Source:SMM

SHANGHAI, Feb. 15 (SMM) -- COMEX April gold futures opened at USD 1,723.2/oz and closed at USD 1,717.7/oz on February 14, down USD 7.2/oz or 0.42% from the previous trading day, and USD 4.3/oz lower than London’s USD 1,722/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,727.2/oz and USD 1,715.9/oz.

COMEX March silver futures opened at USD 33.7/oz and closed at USD 33.348/oz on February 14, down USD 0.374/oz or 1.11% from the previous trading day, and USD 0.162/oz lower than London’s USD 33.51/oz during the day. Highest and lowest COMEX prices during the day were USD 33.7/oz and USD 33.3/oz.

A lack of express promise for new austerity measures from Greece led to change of today’s euro zone Finance Ministers’ meeting into a teleconference. Investor worries got more support after Moody’s downgraded Spain and some other euro zone nations, leading to slight losses in gold and silver. Uncertainty seems still a prominent feature of euro zone debt. As such, SMM expects gold and silver prices to see lasting volatility in the near term and may more possibly show losses.