SHANGHAI, Mar. 19 (SMM) -- COMEX gold futures for delivery in April opened at USD 1,657.1/oz and closed at USD 1,655.8/oz on March 16, down USD 1.9/oz or 0.11% from the previous trading day, and USD 2.2/oz lower than London’s USD 1,658/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,664/oz and USD 1,641.8/oz.
COMEX silver futures for May delivery opened at USD 32.5/oz and closed at USD 32.604/oz on March 15, up USD 0.089/oz or 0.27% from the previous trading day, and USD 0.334/oz higher than London’s USD 32.27/oz during the day. Highest and lowest COMEX prices during the day were USD 32.7/oz and USD 32.2/oz.
Gold and silver rebounded from their intraday lows last Friday after US CPI hit a new high since last April signaling inflation pressuring is building in the United States and dragging lower the US dollar index. SMM expects the two precious metals to see more volatility in the near term.