SHANGHAI, Jul. 13 (SMM) -- COMEX gold futures for delivery in August opened at USD 1,576.3/oz and closed at USD 1,571.9/oz on Jul. 12, down USD 3.8/oz or 0.24% from the previous trading day, but USD 15.65/oz higher than London’s USD 1,556.25/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,577.7/oz and USD 1,555/oz.
COMEX silver futures for September delivery opened at USD 27.1/oz and closed at USD 27.161/oz, up USD 0.138/oz or 0.51% from the previous trading day, and USD 0.491/oz higher than London’s USD 26.67/oz of the day. Highest and lowest COMEX prices during the day were USD 27.3/oz and USD 26.4/oz.
COMEX August gold prices saw a sharp drop, but managed to recover most losses, after Moody’s downgrade on Italian debt pushed the US dollar index even higher. The staying strong US dollar should keep gold prices soft for the near term.