Gold dealers in Singapore see jump in sales amid brief dip in prices
A brief dip in gold prices around the US midterm elections has sparked a short-lived buying spree in Singapore. Globally, gold prices have fallen from their highs earlier this year to around US$3,900 an ounce late last month, amid concerns over inflation and US interest rates. One gold dealer saw sales jump around 20% as wholesalers rushed to stock up on gold bars and jewellery. While the surge has since faded, one economist believes the underlying outlook for gold remains bullish. Nikhil Khattar reports.
A brief dip in gold prices around the US midterm elections has sparked a short-lived buying spree in Singapore. Globally, gold prices have fallen from their highs earlier this year to around US$3,900 an ounce late last month, amid concerns over inflation and US interest rates. One gold dealer saw sales jump around 20% as wholesalers rushed to stock up on gold bars and jewellery. While the surge has since faded, one economist believes the underlying outlook for gold remains bullish. Nikhil Khattar reports.
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