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Textile Market Trends
Country witnesses sharp fall in gold prices
Textiles
Country witnesses sharp fall in gold prices
15 Jun '06
1 min read
Vietnam witnesses sharp fall in gold prices which dropped below VND12 million (US$751) per tael (1.25 oz), the lowest level since mid-April.
Appreciation of US Dollar prompted selling and as a result gold prices fell to its lowest level since mid-April.
Last month in the global market, gold lost more than $110 per ounce whereas Vietnam gold dipped almost VND3 million ($188) per tael.
Inflationary trend in key countries and Iran nuclear crisis were the driving forces for increase in gold prices.
On the other hand some experts and economist believe that such fall in gold prices are justified.
More Textiles News - Vietnam...
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