SMM Morning Review - 2012/7/9 Gold & Silver-Shanghai Metals Market

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SMM Morning Review - 2012/7/9 Gold & Silver

Price Review & Forecast 10:13:35AM Jul 09, 2012 Source:SMM

SHANGHAI, Jul. 9 (SMM) -- COMEX gold futures for delivery in August opened at USD 1,605.1/oz and closed at USD 1,578.9/oz on Jul. 6, down USD 30.5/oz or 1.9% from the previous trading day, and USD 8.1/oz lower than London’s USD 1,587/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,609.6/oz and USD 1,576.9/oz.

COMEX silver futures for September delivery opened at USD 27.7/oz and closed at USD 26.92/oz, down USD 0.752/oz or 2.72% from the previous trading day, and USD 0.4/oz lower than London’s USD 27.32/oz of the day. Highest and lowest COMEX prices during the day were USD 27.8/oz and USD 26.9/oz.

COMEX August gold prices plunged below USD 1,600/oz on Friday as weaker-than-expected non-farm payroll data from the United States pushed up the US dollar to weigh on gold. Gold prices should remain pressured today.

SMM Morning Review - 2012/7/9 Gold & Silver

Price Review & Forecast 10:13:35AM Jul 09, 2012 Source:SMM

SHANGHAI, Jul. 9 (SMM) -- COMEX gold futures for delivery in August opened at USD 1,605.1/oz and closed at USD 1,578.9/oz on Jul. 6, down USD 30.5/oz or 1.9% from the previous trading day, and USD 8.1/oz lower than London’s USD 1,587/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,609.6/oz and USD 1,576.9/oz.

COMEX silver futures for September delivery opened at USD 27.7/oz and closed at USD 26.92/oz, down USD 0.752/oz or 2.72% from the previous trading day, and USD 0.4/oz lower than London’s USD 27.32/oz of the day. Highest and lowest COMEX prices during the day were USD 27.8/oz and USD 26.9/oz.

COMEX August gold prices plunged below USD 1,600/oz on Friday as weaker-than-expected non-farm payroll data from the United States pushed up the US dollar to weigh on gold. Gold prices should remain pressured today.