SHANGHAI, Aug. 30 (SMM) -- Most active SHFE 1112 gold contract prices opened RMB 2.71/gr lower on August 30th and closed at RMB 372.3/gr, down RMB 3.36/gr or 0.89% from previous trading day. Highest and lowest prices during the day were RMB 373.85/gr and RMB 371.2/gr. Shanghai Gold Exchange (SGE) Au9999 spot gold closed at RMB 371.5/gr, down RMB 3.67/gr or 0.98% from previous trading day.
Shanghai gold prices opened lower today as a result of falling global gold prices, and fluctuated downward during the day with losses widening at the tail of trading. SMM expects gold price to keep fluctuating in the short term based on US economic data.