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SMM Morning Review - 2012/8/1 Gold & Silver

iconAug 1, 2012 10:30
Source:SMM
COMEX gold futures for December delivery opened at USD 1625.7/oz and closed at USD 1618/oz Jul. 31

SHANGHAI, Aug. 1 (SMM) – COMEX gold futures for December delivery opened at USD 1625.7/oz and closed at USD 1618/oz Jul. 31, down USD 7.1/oz or 0.44% from the previous trading day, and USD 4/oz lower than London’s USD 1622/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1631.1/oz and USD 1614.6/oz.

COMEX silver for September delivery opened at USD 28.1/oz and finally settled at USD 27.97/oz, down USD 0.063/oz or 0.22% from the previous trading day, and USD 0.23/oz lower than London’s USD 28.3/oz of the day. Highest and lowest COMEX prices during the day were USD 28.3/oz and USD 27.9/oz.

The rises in COMEX December gold prices were arrested Tuesday. Market expectations on further easing measures by the Fed and ECB cooled down, and investors booked profits, driving gold prices to give back earlier gains. On Wednesday, gold prices may continue to drop.

COMEX gold futures
COMEX silver

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