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.