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SMM Morning Review - 2012/3/22 Gold & Silver
Mar 22,2012 09:35CST
smm insight
Source:SMM
COMEX gold futures for delivery in April opened at USD 1,650.1/oz and closed at USD 1,650.3/oz on March 21, up USD 3.3/oz or 0.2% from the previous trading day.

SHANGHAI, Mar. 22 (SMM) -- COMEX gold futures for delivery in April opened at USD 1,650.1/oz and closed at USD 1,650.3/oz on March 21, up USD 3.3/oz or 0.2% from the previous trading day, and USD 1.05/oz higher than London’s USD 1,649.25/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,659.7/oz and USD 1,648.4/oz.

COMEX silver futures for May delivery opened at USD 32.2/oz and closed at USD 32.227/oz on March 21, up USD 0.393/oz or 1.23% from the previous trading day, and USD 0.257/oz higher than London’s USD 31.97/oz during the day. Highest and lowest COMEX prices during the day ere USD 32.4/oz and USD 31.9/oz.

The two precious metals finally recovered slightly as profit-taking starts following previous plunges. However, US home sales data indicating slow recovery of the US property market and Bernanke remarks to help maintain a strong US dollar mean gold and silver will stay on the downward track.

More analysis available in 2012 SMM Precious Metals Weekly.

gold price
silver price
COMEX
Fed
US property market
US dollar

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