SMM Morning Review - 2012/5/30 Gold & Silver-Shanghai Metals Market

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SMM Morning Review - 2012/5/30 Gold & Silver

SMM Insight 09:19:45AM May 30, 2012 Source:SMM

SHANGHAI, May 30 (SMM) -- COMEX gold futures for delivery in August opened at USD 1,576.4/oz and closed at USD 1,551/oz on May 29, down USD 24.6/oz or 1.56% from the previous trading day, and USD 28.5/oz lower than London’s USD 1,579.5/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,584.1/oz and USD 1,551/oz.

COMEX silver futures for July delivery opened at USD 28.4/oz and closed at USD 27.791/oz, down USD 0.604/oz or 2.13% from the previous trading day, and USD 0.459/oz lower than London’s USD 28.25/oz for the day. Highest and lowest COMEX prices during the day were USD 28.7/oz and USD 27.7/oz.

COMEX-August gold plunged on Tuesday to the USD 1,550/oz mark. US rating agency Egan Jones downgraded Spanish sovereign debt from BB- to B, dragging down gold prices. SMM expects gold to be range-bound today.

Key Words:  COMEX   gold   silver   spain   debt 

SMM Morning Review - 2012/5/30 Gold & Silver

SMM Insight 09:19:45AM May 30, 2012 Source:SMM

SHANGHAI, May 30 (SMM) -- COMEX gold futures for delivery in August opened at USD 1,576.4/oz and closed at USD 1,551/oz on May 29, down USD 24.6/oz or 1.56% from the previous trading day, and USD 28.5/oz lower than London’s USD 1,579.5/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,584.1/oz and USD 1,551/oz.

COMEX silver futures for July delivery opened at USD 28.4/oz and closed at USD 27.791/oz, down USD 0.604/oz or 2.13% from the previous trading day, and USD 0.459/oz lower than London’s USD 28.25/oz for the day. Highest and lowest COMEX prices during the day were USD 28.7/oz and USD 27.7/oz.

COMEX-August gold plunged on Tuesday to the USD 1,550/oz mark. US rating agency Egan Jones downgraded Spanish sovereign debt from BB- to B, dragging down gold prices. SMM expects gold to be range-bound today.

Key Words:  COMEX   gold   silver   spain   debt