SMM Gold & Silver Morning Review (2012-10-29)

SHANGHAI, Oct. 29 (SMM) – COMEX gold for December delivery opened at USD 1,711.8/oz and closed at USD 1,711.9/oz on October 26, down USD 1.1/oz or 0.06%, and USD 4.1/oz lower than London’s USD 1,716/oz in the afternoon. Highest and lowest COMEX prices during the day were USD 1,719.1/oz and USD 1,701.4/oz.

COMEX silver for December delivery opened at USD 32.1/oz and finally closed at USD 32/oz, up USD 0.1/oz or 0.31% from the previous trading day, and USD 0.33/oz higher than London’s USD 31.67/oz. Highest and lowest COMEX prices during the day were USD 32.4/oz and USD 31.6/oz.

COMEX gold for December delivery fluctuated narrowly with investors remaining cautious against a lack of reports, and closed slightly lower last Friday. On October 29, gold prices are expected to rise as the higher-than-expected GDP data for the US drove up risk appetite.