SMM Morning Review - 2012/4/10 Gold & Silver

SMM Insight 10:12:59AM Apr 10, 2012 Source:SMM

SHANGHAI, Apr. 10 (SMM) -- COMEX gold futures for delivery in June opened at USD 1,647.7/oz and closed at USD 1,642/oz on April 9, up USD 11.9/oz or 0.73% from the previous trading day. Highest and lowest prices during the day were USD 1,647oz and USD 1,637.69/oz.

COMEX silver futures for May delivery opened at USD 32/oz and closed at USD 31.58/oz on April 9, down USD 0.15/oz or 0.47% from the previous trading day. Highest and lowest prices during the day were USD 32.1/oz and USD 31.4/oz.

The much weaker-than-expected employment data from the US was behind the higher opening prices of gold and silver on Monday. Due to relative strong relevance with the industrial sector, silver shed some losses, in comparison with gains in gold, after Bernanke said the US economy is far from a real recovery from the financial crisis. SMM expects gold and silver to remain range-bound in the near term lacking direction from the news side.

SMM Morning Review - 2012/4/10 Gold & Silver

SMM Insight 10:12:59AM Apr 10, 2012 Source:SMM

SHANGHAI, Apr. 10 (SMM) -- COMEX gold futures for delivery in June opened at USD 1,647.7/oz and closed at USD 1,642/oz on April 9, up USD 11.9/oz or 0.73% from the previous trading day. Highest and lowest prices during the day were USD 1,647oz and USD 1,637.69/oz.

COMEX silver futures for May delivery opened at USD 32/oz and closed at USD 31.58/oz on April 9, down USD 0.15/oz or 0.47% from the previous trading day. Highest and lowest prices during the day were USD 32.1/oz and USD 31.4/oz.

The much weaker-than-expected employment data from the US was behind the higher opening prices of gold and silver on Monday. Due to relative strong relevance with the industrial sector, silver shed some losses, in comparison with gains in gold, after Bernanke said the US economy is far from a real recovery from the financial crisis. SMM expects gold and silver to remain range-bound in the near term lacking direction from the news side.