Cambodia Economics News: Cambodia sees gold price dip Gold prices in Cambodia are down about 27 percent from January through June, according to the Ministry of Commerce. Figures from the ministry show that the price dropped from about $1,995 per damlung in January to $1,560 yesterday. Demand and gold trading in Phnom Penh is gradually increasing, said Sieng Lim a staff at Ly Hour Money gold shop. She also added that most Cambodians buy gold for personal use while a minority stock up on it to resell. As the global economy is recovers, people place more trust in the reliability of currencies, instead of hedging by hoarding gold, said Chan Sophal an independent economic analyst. Gold trade changed little yesterday after the biggest drop in almost two weeks in response to the US Federal Reserve Chairman Ben S Bernanke’s comments on the central bank’s asset purchases. (Source: The Phnom Penh Post)
Posted on: Fri, 19 Jul 2013 04:44:59 +0000
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