SMM Morning Review - 2012/8/7 Gold & Silver

SHANGHAI, Aug. 7 (SMM) – COMEX gold futures for December delivery opened at USD 1,607.5/oz and closed at USD 1,616.2/oz August 6, up USD 6.9/oz or 0.43% from the previous trading day, and USD 6.2/oz higher than London’s USD 1610/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,617.9/oz and USD 1,605.4/oz.

COMEX silver for September delivery opened at USD 27.8/oz and finally settled at USD 27.805/oz, up USD 0.004/oz or 0.01% from the previous trading day, and USD 0.085/oz higher than London’s USD 27.72/oz of the day. Highest and lowest COMEX prices during the day were USD 27.9/oz and USD 27.6/oz.

The COMEX gold for December delivery fluctuated up on Monday and closed slightly higher since the positive non-farm payrolls continued to influence the market, dragging down the US dollar index. Gold prices are expected to fluctuate narrowly on Tuesday with investors watch on the sidelines due to a lack of influential events.