SMM Morning Review - 2012/7/26 Gold & Silver-Shanghai Metals Market

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SMM Morning Review - 2012/7/26 Gold & Silver

Price Review & Forecast 10:23:54AM Jul 26, 2012 Source:SMM

SHANGHAI, Jul. 26 (SMM) -- COMEX gold futures for delivery in December opened at USD 1,584.6/oz and closed at USD 1,612.7/oz Jul. 25, up USD 31.9/oz or 2.02% from the previous trading day, and USD 11.7/oz higher than London’s USD 1,601/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,613.6/oz and USD 1,582.6/oz.

COMEX silver futures for September delivery opened at USD 27/oz and closed at USD 27.5/oz, up USD 0.689/oz or 2.57% from the previous trading day, and USD 0.39/oz higher than London’s USD 27.11/oz of the day. Highest and lowest COMEX prices during the day were USD 27.5/oz and USD 26.8/oz.

COMEX December gold prices closed significantly higher on speculations the European Central Bank will award ESM a banking license and Fed will provide more easing in the near future. Gold prices should stay in ranges today.
 

SMM Morning Review - 2012/7/26 Gold & Silver

Price Review & Forecast 10:23:54AM Jul 26, 2012 Source:SMM

SHANGHAI, Jul. 26 (SMM) -- COMEX gold futures for delivery in December opened at USD 1,584.6/oz and closed at USD 1,612.7/oz Jul. 25, up USD 31.9/oz or 2.02% from the previous trading day, and USD 11.7/oz higher than London’s USD 1,601/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,613.6/oz and USD 1,582.6/oz.

COMEX silver futures for September delivery opened at USD 27/oz and closed at USD 27.5/oz, up USD 0.689/oz or 2.57% from the previous trading day, and USD 0.39/oz higher than London’s USD 27.11/oz of the day. Highest and lowest COMEX prices during the day were USD 27.5/oz and USD 26.8/oz.

COMEX December gold prices closed significantly higher on speculations the European Central Bank will award ESM a banking license and Fed will provide more easing in the near future. Gold prices should stay in ranges today.