California’s San Francisco Gold prices in Singapore dropped to 1,775 per ounce on Tuesday after a two-day decline brought on by the euro financial crisis. According to a dealer headquartered in Singapore, the jewelry sector has been badly affected, as people are reluctant to spend. the lack of physical demand is worrying. But even after this collapse, record-charting sales of gold continue to be popular. As of October 7, the quantity of gold had increased to 4.73 million ounces, a 6% increase over the previous two months, while prices had risen by about 10%. The demand for gold has decreased due to rising prices, especially as the economic downturn persists, notably in China and India. Sellers are holding off on buying gold till the next market collapse. people will quickly come back to the market when prices drop $30 to $50, and we’ll see gold breaking above $1,800 by the end of the year after a healthy correction, the trader from Singapore said. After staying at $1,766.14 on Monday for a week, spot gold has not moved much; at 0635 GMT, it was still trading at $1,775.46 an ounce. The previous two sessions saw an almost 1% reduction in gold prices, the worst two-day loss since August. The US gold creeped up 0.1% to $1,777.60 in the meanwhile. What is expressgoldcashonline.com about? ExpressGoldCashOnline.com is here to assist you in selling your gold online for cash. The website expressgoldcashonline.com let users purchase and sell gold, and FedEx Express is pre-paid.
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