SMM Morning Review - 2012/7/24 Gold & Silver-Shanghai Metals Market

Hot Keywords

  • Silicon
  • Inventory data
  • Nickel
  • Aluminium
  • Copper scrap
  • 铜管/铜管
  • Rare earth
  • MMi Iron Ore Port Index
  • Macroeconomics
  • Market commentary
  • Copper
  • Zinc
  • provisional iron ore export permits
  • Operating rates
  • Nickel ore

SMM Morning Review - 2012/7/24 Gold & Silver

Price Review & Forecast 10:50:20AM Jul 24, 2012 Source:SMM

SHANGHAI, Jul. 24 (SMM) -- COMEX gold futures for delivery in August opened at USD 1,580.9/oz and closed at USD 1,577.4/oz Jul. 20, down USD 5.4/oz or 0.34% from the previous trading day, but USD 5.15/oz higher than London’s USD 1,572.25/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,582.4/oz and USD 1,562.7/oz.

COMEX silver futures for September delivery opened at USD 27.2/oz and closed at USD 27/oz, down USD 0.302/oz or 1.11% from the previous trading day, while USD 0.05/oz higher than London’s USD 26.95/oz of the day. Highest and lowest COMEX prices during the day were USD 27.3/oz and USD 26.7/oz.

COMEX August gold prices fluctuated slightly higher as record high debt yields in Spain added to worries towards the European debt crisis to drive risk aversion and in turn press down gold prices. SMM expects gold prices to remain weak today.
 

SMM Morning Review - 2012/7/24 Gold & Silver

Price Review & Forecast 10:50:20AM Jul 24, 2012 Source:SMM

SHANGHAI, Jul. 24 (SMM) -- COMEX gold futures for delivery in August opened at USD 1,580.9/oz and closed at USD 1,577.4/oz Jul. 20, down USD 5.4/oz or 0.34% from the previous trading day, but USD 5.15/oz higher than London’s USD 1,572.25/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,582.4/oz and USD 1,562.7/oz.

COMEX silver futures for September delivery opened at USD 27.2/oz and closed at USD 27/oz, down USD 0.302/oz or 1.11% from the previous trading day, while USD 0.05/oz higher than London’s USD 26.95/oz of the day. Highest and lowest COMEX prices during the day were USD 27.3/oz and USD 26.7/oz.

COMEX August gold prices fluctuated slightly higher as record high debt yields in Spain added to worries towards the European debt crisis to drive risk aversion and in turn press down gold prices. SMM expects gold prices to remain weak today.