Gold sales soar in Argentina

Posted on August 22, 2011 • Filed under: Argentina, Economy

City Bank of Argentina has announced that the purchase of gold has increased by 10 times the normal amount in the past week due to the recent declines in the world market, according to Normally, Argentine banks sell one or two kilos of gold a day, and last week the average was 20 kilos a day. Bank officials say one ounce of gold is currently priced at $1,850. The price and sales of gold around the world have increased in recent weeks.
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