SMM Morning Review - 2012/5/18 Gold & Silver

May 18, 2012 09:52

COMEX gold futures for delivery in June opened at USD 1,539.1/oz and closed at USD 1,574.9/oz on May 17, up USD 34.5/oz or 2.24% from the previous trading day.

SHANGHAI, May 18 (SMM) -- COMEX gold futures for delivery in June opened at USD 1,539.1/oz and closed at USD 1,574.9/oz on May 17, up USD 34.5/oz or 2.24% from the previous trading day, and USD 20.9/oz higher than London’s USD 1,554/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,579.5/oz and USD 1,538.5/oz.

COMEX silver futures for July delivery opened at USD 27.2/oz and closed at USD 28/oz, up USD 0.8/oz or 2.94% from the previous trading day, and USD 0.52/oz higher than London’s USD 27.48/oz for the day. Highest and lowest COMEX prices during the day were USD 28.3/oz and USD 27.2/oz.

The strong rebound in COMEX June gold overnight was backed by bargain-hunting and technical buying. SMM expects gold to be range-bound today.

COMEX

gold

June

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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SMM Morning Review - 2012/5/18 Gold & Silver

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