SMM Morning Review - 2012/5/18 Gold & Silver-Shanghai Metals Market

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

SMM Insight 09:52:44AM May 18, 2012 Source:SMM

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.

Key Words:  COMEX   gold   June 

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

SMM Insight 09:52:44AM May 18, 2012 Source:SMM

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.

Key Words:  COMEX   gold   June