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Enoch Yiu

Hong Kong gold prices followed international markets to their lowest in more than a decade yesterday, with the yellow metal closing at $2,952 per tael, down from its close on Saturday of $3,007.

 Chinese Gold & Silver Exchange Society manager Thomas Chan Chat-yin said yesterday's closing price was the first time in 11.5 years Hong Kong gold had dropped below $3,000 per tael.

 The lowest gold price in Hong Kong's history is $2,649 per tael, recorded in February 1985.

 The exchange is used by 191 local gold dealers which include bankers, jewellery manufacturers and investors.

 Mr Chan said trading was very active yesterday due to the plunging price, but that trading had been smooth and all dealers were able to cover their margin positions.



Gold Price