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.