SMM Morning Review - 2012/4/6 Gold & Silver

SHANGHAI, Apr. 6 (SMM) -- COMEX gold futures for delivery in May opened at USD 1,621.2/oz and closed at USD 1,630.1/oz Thursday, up USD 16/oz or 0.99% from the prior trading day, with an intraday high and low at USD 1,633.7/oz and USD 1,621.2/oz, respectively, and USD 0.9/oz lower than London's USD 1,631/oz in the afternoon.


COMEX silver futures for delivery in May opened at USD 31.30/oz and closed at USD 31.73/oz Thursday, a gain of USD 0.73/oz or 2.35% from the previous trading day, and USD 0.46/oz lower than London's USD 31.27/oz during the day. Highest and lowest COMEX prices during the day were USD 31.8/oz and USD 31.20/oz, respectively.

As Spanish and Italian bond yields surged Thursday, investors were worried the European debt crisis may resurface, which helped the US dollar, silver, and gold edge higher. The US and European financial markets are closed for the Good Friday, and investors are paying close attention to the US nonfarm payrolls to be announced Friday. As such, SMM anticipates gold and silver prices will keep fluctuating weakly Friday.