SMM Gold & Silver Morning Review (2012-10-19)

SHANGHAI, Oct. 19 (SMM) – COMEX gold for December delivery opened at USD 1,751.3/oz and closed at USD 1,744.7/oz, down USD 8.3/oz or 0.47% on October 18, USD 1.7/oz higher than London’s USD 1,743/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,753.4/oz and USD 1,739.4/oz.

COMEX silver for December delivery opened at USD 33.2/oz and finally closed at USD 32.868/oz, falling USD 0.364/oz or 1.1% from the previous trading day, and USD 0.122/oz lower than London’s USD 32.99/oz. Highest and lowest COMEX prices during the day were USD 33.3/oz and USD 32.7/oz.

COMEX gold for December delivery moved down on October 18 as the two-day summit of European leaders in Brussels caused market concerns, driving up the US dollar index. On October 19, gold prices are expected to remain weak.