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SMM Morning Review - 2012/3/5 Gold & Silver
Mar 5,2012 09:49CST
smm insight
Source:SMM
COMEX gold futures for delivery in April opened at USD 1,718.1/oz and closed at USD 1,709.8/oz on March 2, down USD 12.4/oz or 0.72% from the previous trading day.

SHANGHAI, Mar. 5 (SMM) -- COMEX gold futures for delivery in April opened at USD 1,718.1/oz and closed at USD 1,709.8/oz on March 2, down USD 12.4/oz or 0.72% from the previous trading day, while USD 2.8/oz higher than London’s USD 1,707/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,724.9/oz and USD 1,708.4/oz.

COMEX silver futures for May delivery opened at USD 35.5/oz and closed at USD 34.5/oz on March 2, down USD 1.1/oz or 3.19% from the previous trading day, and USD 0.71/oz lower than London’s USD 35.21/oz during the day. Highest and lowest COMEX prices during the day were USD 35.5/oz and USD 34.5/oz.

The two precious metals both saw losses after the US dollar regained strength amid weak European economic data and worries towards a Greek default triggered by a rating cut for Greece by Moody’s. Volatility therefore will stay in gold and silver prices in the near term as the European debt crisis remains unsolved.

gold price
silver price
Greece
European debt crisis
US dollar

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