SMM Morning Review - 2012/7/16 Gold & Silver-Shanghai Metals Market

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SMM Morning Review - 2012/7/16 Gold & Silver

Price Review & Forecast 10:16:59AM Jul 16, 2012 Source:SMM

SHANGHAI, Jul. 16 (SMM) -- COMEX gold futures for delivery in August opened at USD 1,571.9/oz and closed at USD 1,587.1/oz Jul. 13, up USD 15.2/oz or 0.97% from the previous trading day, but USD 8.4/oz lower than London’s USD 1,595.5/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,595.4/oz and USD 1,565.8/oz.

COMEX silver futures for September delivery opened at USD 27.2/oz and closed at USD 27.245/oz, up USD 0.084/oz or 0.31% from the previous trading day, but USD 0.235/oz lower than London’s USD 27.48/oz of the day. Highest and lowest COMEX prices during the day were USD 27.5/oz and USD 27.1/oz.

COMEX August gold prices fluctuated higher on Friday as the strong financial statement from JPMorgan Chase boosted financial markets to weigh down the US dollar. Gold prices should continue to rally today, but will remain pressured by the staying high US dollar index.

SMM Morning Review - 2012/7/16 Gold & Silver

Price Review & Forecast 10:16:59AM Jul 16, 2012 Source:SMM

SHANGHAI, Jul. 16 (SMM) -- COMEX gold futures for delivery in August opened at USD 1,571.9/oz and closed at USD 1,587.1/oz Jul. 13, up USD 15.2/oz or 0.97% from the previous trading day, but USD 8.4/oz lower than London’s USD 1,595.5/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,595.4/oz and USD 1,565.8/oz.

COMEX silver futures for September delivery opened at USD 27.2/oz and closed at USD 27.245/oz, up USD 0.084/oz or 0.31% from the previous trading day, but USD 0.235/oz lower than London’s USD 27.48/oz of the day. Highest and lowest COMEX prices during the day were USD 27.5/oz and USD 27.1/oz.

COMEX August gold prices fluctuated higher on Friday as the strong financial statement from JPMorgan Chase boosted financial markets to weigh down the US dollar. Gold prices should continue to rally today, but will remain pressured by the staying high US dollar index.