SHANGHAI, Nov. 17 (SMM) – The most active SHFE gold contract 1206 opened RMB 1.64/gr lower on November 17th, and closed at RMB 362.88/gr, down RMB 1.07/gr or 0.29% from the previous trading day. Highest and lowest prices during the day were RMB 363.29/gr and RMB 360.86/gr. Shanghai Gold Exchange (SGE) Au9999 spot gold closed at RMB 361.1/gr, down RMB 1/gr or 0.28% from the previous trading day.
After opening slightly lower, Shanghai gold prices narrowed losses in the afternoon supported by gains in commodity prices. Traded volumes for the metal remained limited today as most investors stood on the sidelines. SMM expect drastic fluctuations to continue in gold prices in the short term.