SHANGHAI, Sept. 13 (SMM) -- Most active SHFE 1112 gold contract opened RMB 8.7/gr lower on September 13th and closed at RMB 378.59/gr, down RMB 7.9/gr or 2.04% from previous trading day. Highest and lowest prices during the day were RMB 380/gr and RMB 376.67/gr. Shanghai Gold Exchange (SGE) Au9999 spot gold closed at RMB 377.5/gr, down RMB 7.64/gr or 1.98% from previous trading day.
Due to plunging gold prices globally overnight, Shanghai gold prices opened much lower today, and maintained a downward run with losses narrowing at the tail of trading. Both transaction volume and positions of SHFE gold contracts saw significant decrease, indicating investor confidence was damped. Therefore, SMM expect gold price to stay on a downward track.