SMM Morning Review - 2012/6/29 Gold & Silver

Price Review & Forecast 10:12:02AM Jun 29, 2012 Source:SMM

SHANGHAI, Jun. 29 (SMM) -- COMEX gold futures for delivery in August opened at USD 1,574.7/oz and closed at USD 1,553.1/oz on Jun. 28, down USD 25.3/oz or 1.6% from the previous trading day, and USD 5.4/oz lower than London’s USD 1,558.5/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,579.5/oz and USD 1,548.6/oz.

COMEX silver futures for September delivery opened at USD 26.9/oz and closed at USD 26.291/oz, down USD 0.709/oz or 2.63% from the previous trading day, and USD 0.519/oz lower than London’s USD 26.81/oz of the day. Highest and lowest COMEX prices during the day were USD 27.1/oz and USD 26.1/oz.

COMEX August gold prices shed heavy losses overnight as doubts on the on-going EU Summit’s ability to solve the region’s debt crisis pushed up dollar buying to weigh down prices. Gold prices should remain soft today.

SMM Morning Review - 2012/6/29 Gold & Silver

Price Review & Forecast 10:12:02AM Jun 29, 2012 Source:SMM

SHANGHAI, Jun. 29 (SMM) -- COMEX gold futures for delivery in August opened at USD 1,574.7/oz and closed at USD 1,553.1/oz on Jun. 28, down USD 25.3/oz or 1.6% from the previous trading day, and USD 5.4/oz lower than London’s USD 1,558.5/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,579.5/oz and USD 1,548.6/oz.

COMEX silver futures for September delivery opened at USD 26.9/oz and closed at USD 26.291/oz, down USD 0.709/oz or 2.63% from the previous trading day, and USD 0.519/oz lower than London’s USD 26.81/oz of the day. Highest and lowest COMEX prices during the day were USD 27.1/oz and USD 26.1/oz.

COMEX August gold prices shed heavy losses overnight as doubts on the on-going EU Summit’s ability to solve the region’s debt crisis pushed up dollar buying to weigh down prices. Gold prices should remain soft today.