SMM Morning Review - 2012/7/19 Gold & Silver

SHANGHAI, Jul. 19 (SMM) -- COMEX gold futures for delivery in August opened at USD 1,583/oz and closed at USD 1,570.8/oz Jul. 18, down USD 18.7/oz or 1.18% from the previous trading day, and USD 4.45/oz lower than London’s USD 1,575.25/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,585.3/oz and USD 1,567.2/oz.

COMEX silver futures for September delivery opened at USD 27.3/oz and closed at USD 27.095/oz, down USD 0.175/oz or 0.64% from the previous trading day, but USD 0.065/oz higher than London’s USD 27.03/oz of the day. Highest and lowest COMEX prices during the day were USD 27.3/oz and USD 26.865/oz.

COMEX August gold prices fluctuated lower as US new housing starts in June beat estimates and Fed President Ben Bernanke held back QE3 expectations to strengthen the US dollar and in turn weigh down gold prices. A slight rebound is expected for today’s gold prices.