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SMM Morning Review - 2012/8/2 Gold & Silver

iconAug 2, 2012 11:14
Source:SMM
COMEX gold futures for December delivery opened at USD 1618.2/oz and closed at USD 1603.3/oz August 1.

SHANGHAI, Aug. 2 (SMM) – COMEX gold futures for December delivery opened at USD 1618.2/oz and closed at USD 1603.3/oz August 1, down USD 14.7/oz or 0.91% from the previous trading day, and USD 4.3/oz higher than London’s USD 1599/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1621.8/oz and USD 1597.2/oz.

COMEX silver for September delivery opened at USD 27.9/oz and finally settled at USD 27.3/oz, down USD 0.67/oz or 2.4% from the previous trading day, and USD 0.57/oz lower than London’s USD 27.87/oz of the day. Highest and lowest COMEX prices during the day were USD 28/oz and USD 27.1/oz.

The COMEX December gold prices dropped to nearly USD 1,600/oz Wednesday. Despite the weakness in the US economy, the Fed sent no signal of implementing QE3, driving the US dollar index and weighing on gold prices. Gold prices may continue to fall on Thursday.

 

 


 

COMEX gold
COMEX silver

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