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SMM Morning Review - 2012/5/4 Gold & Silver
May 4,2012 09:18CST
smm insight
Source:SMM
COMEX gold futures for delivery in June opened at USD 1,654/oz and closed at USD 1,634.8/oz on Thursday, down USD 18.9/oz or 1.14% from the previous trading day.

SHANGHAI, May 4 (SMM) – COMEX gold futures for delivery in June opened at USD 1,654/oz and closed at USD 1,634.8/oz on Thursday, down USD 18.9/oz or 1.14% from the previous trading day, and USD 2.95/oz lower than London’s USD 1,637.75/oz in the afternoon. Highest and lowest prices during the day were USD 1,654.3/oz and USD 1,631.9/oz.

COMEX silver futures for July delivery opened at USD 30.6/oz and closed at USD 30.01/oz, down USD 0.64/oz or 2.07% from the previous trading day, and USD 0.35/oz lower than London’s USD 30.36/oz for the day. Highest and lowest prices during the day were USD 30.7/oz and USD 30/oz.

The European Central Bank decided to maintain benchmark, lending and deposit rates at 1%, 1.75% and 0.25% respectively, according to its interest rate resolution, inducing a four-day drop of euro against US dollar as euro zone worries stay. The US ISM non-manufacturing index posted 53.5 for April, lower than the expected 55.5 and a new low since December. While the weak ISM data has weakened support from last week’s employment data, straight gains of the US dollar still pressed gold prices lower. Investors’ attention is put on the US non-farm payroll data to be released today. Gold and silver are expected to stay on the negative side before that data.

gold price
silver price
COMEX
euro zone
interest rate
US dollar
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