SMM Daily Review - 2011/9/1 Gold Market

Sep 1, 2011 17:13

Most active SHFE 1112 gold contract closed at RMB 376.35/gr, down RMB 3.12/gr or 0.82% from previous trading day, SGE Au9999 spot gold closed at RMB 375.11/gr, down RMB 2.11/gr or 0.56%.

SHANGHAI, Sept. 1 (SMM) -- Most active SHFE 1112 gold contract prices opened RMB 0.58/gr lower on September 1st and closed at RMB 376.35/gr, down RMB 3.12/gr or 0.82% from previous trading day. Highest and lowest prices during the day were RMB 378.92/gr and RMB 376.22/gr. Shanghai Gold Exchange (SGE) Au9999 spot gold closed at RMB 375.11/gr, down RMB 2.11/gr or 0.56% from previous trading day.

Shanghai gold prices opened slightly lower today and fluctuated downward with losses widening at the tail of trading. As market direction is still unclear and will largely depend on market news, SMM expects gold prices to keep fluctuating in the short term while waiting for non-farm payroll data from the US tomorrow night.

gold price

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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SMM Daily Review - 2011/9/1 Gold Market

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