THE price of local gold decreased in value from over K870,000 to about K850,000 on Thursday as the price fell on the world market early this month, according to local gold traders.
“Although the price declined on the domestic market, we received only a few demand for gold.” said a local gold seller.
A gold trader estimated that the local gold price is likely to continue to decrease.
An ounce of gold on the world market peaked in value at US$1,350. The price has steadily declined since 25 August. The current gold price on the world market is US$1,307 on Thursday.