SMM Morning Review - 2012/5/25 Gold & Silver-Shanghai Metals Market

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SMM Morning Review - 2012/5/25 Gold & Silver

SMM Insight 10:38:30AM May 25, 2012 Source:SMM

SHANGHAI, May 25 (SMM) -- COMEX gold futures for delivery in August opened at USD 1,563.2/oz and closed at USD 1,559.8/oz on May 24, up USD 9.2/oz or 0.59% from the previous trading day, but USD 8.7/oz lower than London’s USD 1,568.5/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,579.6/oz and USD 1,553.4/oz.

COMEX silver futures for July delivery opened at USD 27.8/oz and closed at USD 28.2/oz, up USD 0.7/oz or 2.55% from the previous trading day, and USD 0.12/oz higher than London’s USD 28.08/oz for the day. Highest and lowest COMEX prices during the day were USD 28.5/oz and USD 27.6/oz.

COMEX August gold ended its three-day drop on Thursday as the upward run of the US dollar index slowed. SMM expects an upward correction of gold today. The trading band should be narrow.

Key Words:  COMEX   gold   silver 

SMM Morning Review - 2012/5/25 Gold & Silver

SMM Insight 10:38:30AM May 25, 2012 Source:SMM

SHANGHAI, May 25 (SMM) -- COMEX gold futures for delivery in August opened at USD 1,563.2/oz and closed at USD 1,559.8/oz on May 24, up USD 9.2/oz or 0.59% from the previous trading day, but USD 8.7/oz lower than London’s USD 1,568.5/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,579.6/oz and USD 1,553.4/oz.

COMEX silver futures for July delivery opened at USD 27.8/oz and closed at USD 28.2/oz, up USD 0.7/oz or 2.55% from the previous trading day, and USD 0.12/oz higher than London’s USD 28.08/oz for the day. Highest and lowest COMEX prices during the day were USD 28.5/oz and USD 27.6/oz.

COMEX August gold ended its three-day drop on Thursday as the upward run of the US dollar index slowed. SMM expects an upward correction of gold today. The trading band should be narrow.

Key Words:  COMEX   gold   silver