SHANGHAI, Oct. 10 (SMM) – The most active SHFE 1112 gold contract opened RMB 3.31/gr higher on October 10th, and closed at RMB 341.63/gr, up RMB 3.94/gr or 1.17% from previous trading day. Highest and lowest prices during the day were RMB 342.6/gr and RMB 340.94/gr. Shanghai Gold Exchange (SGE) Au9999 spot gold closed at RMB 342.98/gr, up RMB 4.89/gr or 1.45% from previous trading day.
Shanghai gold prices opened higher today following gains globally during the national day holiday. The metal fluctuated at higher-end prices during today’s trading, and slightly widened gains before closing. Transactions for spot gold surged today as a result of strong buying interest among spot traders. Europe will remain one decisive factor for future gold price trends. Recent market focus will be liquidity of European banks, and gold price is expected to continue fluctuating within a wide range.