SHANGHAI, Apr. 18 (SMM) – Both gold and silver saw a V-turn on Tuesday, with gold recovering most losses and silver turning to gains after Spain sold out more debt as planned to ease worries towards European debt woes. With no support from the policy side, the two metals should stay on the downward track, however.

COMEX gold futures for delivery in June opened at USD 1,653.5/oz and closed at USD 1,651.1/oz on April 17, down USD 2.9/oz or 0.18% from the previous trading day, while USD 15.6/oz higher than London’s USD 1,635.5/oz in the afternoon. Highest and lowest prices during the day were USD 1,657.2/oz and USD 1,639.6/oz.

COMEX silver futures for May delivery opened at USD 31.5/oz and closed at USD 31.67/oz, up USD 0.3/oz or 0.96% from the previous trading day, and USD 0.03/oz higher than London’s USD 31.64/oz for the day. Highest and lowest prices during the day were USD 31.9/oz and USD 31.3/oz.