The gold price reached a three month high on the Shanghai Gold Exchange on Nov. 27. AU9999 and AU9995 both opened on the market at 160 yuan per gram.

The domestic gold price is closely tied to the international gold price. Last Friday, the international spot gold price was US$637.70 per ounce on the US market, rising US$16.50 from US$621.20, a percentage point increase of 2.66. Yang Yijun, the Chief Analyst at Wellxin Invest Limited Company said that the international price of gold price had risen mainly because the US dollar had fallen in value. After Thanksgiving, investors had felt more pessimistic about the US dollar.

By People's Daily Online