SHANGHAI, Sept. 14 (SMM) -- Most active SHFE 1112 gold contract opened RMB 3.36/gr higher on September 14th and closed at RMB 378.33/gr, down RMB 0.26/gr or 0.07% from previous trading day. Highest and lowest prices during the day were RMB 383.04/gr and RMB 376.84/gr. Shanghai Gold Exchange (SGE) Au9999 spot gold closed at RMB 378/gr, up RMB 0.5/gr or 0.13% from previous trading day.
Shanghai gold prices opened higher today supported by climbing global gold prices overnight, but closed mixed due to all rounded falling in stock and commodity prices after credit rating agency Moody’s downgraded French banks. SMM expects gold to see drastic fluctuation in the short term given increased uncertainties over the European debt crisis.