Nigerian gold falls to N176K/g after US stock market bloodbath

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The price of 24-karat gold in Nigeria briefly fell to about ₦176,000 per gram after turmoil in overseas equity markets. The decline hurt local investors and jewellers as traders reassessed gold’s safe-haven appeal.

Nigeria’s local gold market briefly fell at the last trading session of the week as 24-karat gold settled near N176, 000 per gram. The sell-off was net negative for local investors and jewellers, who’ve had to contend with turmoil in overseas equity markets. Metal traders reassess staple safe-haven instruments as sentiment shifts away from risky […] The post Nigerian gold falls to N176K/g after US stock market bloodbath appeared first on Nairametrics.