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SMM Morning Review - 2012/3/16 Gold & Silver
Mar 16, 2012 09:45COMEX gold futures for delivery in April opened at USD 1,642.8/oz and closed at USD 1,657.4/oz on March 15, up USD 13.4/oz or 0.82% from the previous trading day.
SHANGHAI, Mar. 16 (SMM) -- COMEX gold futures for delivery in April opened at USD 1,642.8/oz and closed at USD 1,657.4/oz on March 15, up USD 13.4/oz or 0.82% from the previous trading day, and USD 9.4/oz higher than London’s USD 1,648/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,662.1/oz and USD 1,637.6/oz.
COMEX silver futures for May delivery opened at USD 32.1/oz and closed at USD 32.515/oz on March 15, up USD 0.315/oz or 0.98% from the previous trading day, and USD 0.155/oz higher than London’s USD 32.84/oz during the day. Highest and lowest COMEX prices during the day were USD 32.726/oz and USD 32/oz.
Profit-taking by shorts started Thursday following a three-day drop in gold and silver prices and after Fitch Ratings, following Standard & Poor’s, lifted Greek debt rating and provided a positive outlook. IMF’s approval of EUR 28 billion loan to Greece also helped ease the market sentiment. Consequently a recovery has set in following previous plunges.
More analysis available in 2012 SMM Precious Metals Weekly.
gold price
silver price
COMEX
IMF
Greek debt
profit-taking
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
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