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SMM Morning Review - 2012/3/27 Gold & Silver
Mar 27,2012 10:17CST
smm insight
Source:SMM
COMEX gold futures for delivery in April opened at USD 1,662.2/oz and closed at USD 1,685.6/oz on March 26, up USD 24.8/oz or 1.49% from the previous trading day.

SHANGHAI, Mar. 27 (SMM) -- COMEX gold futures for delivery in April opened at USD 1,662.2/oz and closed at USD 1,685.6/oz on March 26, up USD 24.8/oz or 1.49% from the previous trading day, and USD 5.35/oz higher than London’s USD 1,680.25/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,692.1/oz and USD 1,656.8/oz.

COMEX silver futures for May delivery opened at USD 32.2/oz and closed at USD 32.75/oz on March 26, up USD 0.65/oz or 2.02% from the previous trading day, and USD 0.52/oz higher than London’s USD 32.23/oz during the day. Highest and lowest COMEX prices during the day were USD 32.9/oz and USD 32.1/oz.

Jumping gold and silver prices overnight were mainly supported by Fed President Bernanke’s claim that higher economic growth is needed to stimulate employment, which has been understood as a need for more stimulus monetary policies. SMM expects gold and silver to stay at present levels supported by renewed QE3 expectations.

More analysis available in 2012 SMM Precious Metals Weekly.
 

gold price
silver price
COMEX
futures
Fed
QE3
employment

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