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SMM Morning Review - 2012/3/23 Gold & Silver
Mar 23,2012 09:08CST
smm insight
Source:SMM
COMEX gold futures for delivery in April opened at USD 1,648.8/oz and closed at USD 1,642.5/oz on March 22, down USD 7.8/oz or 0.47% from the previous trading day

SHANGHAI, Mar. 23 (SMM) -- COMEX gold futures for delivery in April opened at USD 1,648.8/oz and closed at USD 1,642.5/oz on March 22, down USD 7.8/oz or 0.47% from the previous trading day, while USD 7/oz higher than London’s USD 1,635.5/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,654.5/oz and USD 1,628/oz.

COMEX silver futures for May delivery opened at USD 32.1/oz and closed at USD 31.64/oz on March 22, down USD 0.587/oz or 1.82% from the previous trading day, and USD 0.15/oz lower than London’s USD 31.79/oz during the day. Highest and lowest COMEX prices during the day ere USD 32.3/oz and USD 31.2/oz.

Worries towards China and euro zone economies following weaker-than-expected manufacturing data triggered losses in both gold and silver. Economic data continued to flow out of the US, in contrast, adding to the appeal of US assets while haven-demand increases. As such, SMM stays pessimistic towards this near term gold and silver prices.

More analysis available in 2012 SMM Precious Metals Weekly.

gold price
silver price
US
China
euro zone

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