Metals News
SMM Morning Review - 2012/5/11 Gold & Silver
smm insight
May 15,2012

SHANGHAI, May 15 (SMM) -- COMEX gold futures for delivery in June opened at USD 1,584.4/oz and closed at USD 1,561/oz on May 14, down USD 23/oz or 1.45% from the previous trading day, but USD 2.5/oz higher than London’s USD 1,558.5/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,585.2/oz and USD 1,556/oz.

COMEX silver futures for July delivery opened at USD 28.9/oz and closed at USD 28.4/oz, down USD 0.49/oz or 1.7% from the previous trading day, but USD 0.07/oz higher than London’s USD 28.33/oz for the day. Highest and lowest COMEX prices during the day were USD 29/oz and USD 28.1/oz.

Greek was still a key market mover on Monday. Investors’ worries mounted as Greek attempts to rebuild a cabinet failed one by one and news flew out that Greece may finally exit the euro zone. Euro zone leaders pressured Greece during the day to step up efforts for a new government. A second vote is to be held in June in Greece. Eurostat data show euro zone industrial output dropped unexpected by 0.3% MoM in March, in contrast with the expected 0.4% gain, indicating the region is facing a not “moderate” recession. Due to above development, investors moved to the safer dollar, with gold weakening for a second day. SMM expect gold and silver to shed more losses during today’s trading.

gold price
silver price
For queries, please contact Frank LIU at
For more information on how to access our research reports, please email
Related Price

No Data