Gold Being Sold Fast as Int’l Price Drops
The falling price of gold on international markets is leading to high sales of the precious metal in Cambodia as consumers fear prices could continue to tumble, gold traders said yesterday. Gold on the international market traded at $1,632.90 per troy ounce in New York yesterday morning, down from a high of $1,790 in late February. Kim Khieng Sear, manager of the Khay Sikhav gold and silver trading shop in Daun Penh district, said the price of gold sold in Phnom Penh markets has decreased 18.6 percent since April, to $1,940 per damlung. Falling prices have also led to a 40 percent decrease in the number of sales, he said. …
