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Home / Metal News / SMM Daily Review - 2011/9/16 Shanghai Gold Markets

SMM Daily Review - 2011/9/16 Shanghai Gold Markets

iconSep 16, 2011 16:38
Most active SHFE 1112 gold contract closed at RMB 365.91/gr, down RMB 9.56/gr or 2.55%, SGE Au9999 spot gold closed at RMB 366.85/gr, down RMB 8.13/gr or 1.07%.

SHANGHAI, Sept. 16 (SMM) -- Most active SHFE 1112 gold contract opened RMB 6.47/gr lower on September 16th, and closed at RMB 365.91/gr, down RMB 9.56/gr or 2.55% from previous trading day. Highest and lowest prices during the day were RMB 369.5/gr and RMB 364.82/gr. Shanghai Gold Exchange (SGE) Au9999 spot gold closed at RMB 366.85/gr, down RMB 8.13/gr or 1.07% from previous trading day.

Global gold prices plunged overnight with eroded haven demand due to injection of US dollar liquidity to European banks by major central banks. As a result, Shanghai gold prices opened much lower and fluctuated downward with losses widening at the tail of trading. SMM expects gold to remain weak in the short term.
 

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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