HK's gold prices surge to US$1,019.18 a troy ounce

Hong Kong's gold price increased HK$219 to reach HK$9,423 a tael on Monday, equivalent to US$1,019.18 a troy ounce, jumping US$25.49 at Monday's exchange rate of US$1 against HK$7.76, according to the Bank of China (Hong Kong)<2388>.

The Bank attributed the increment to the investors' large purchase of gold to offset their loss in global stock markets routs.

Last Wednesday, the price went down HK$187 to HK$ 8,348 per tael, or US$899.26 a troy ounce, down US$20.44 at last Wednesday's exchange rate of US$1 against HK$7.7925, according to Bank of China (Hong Kong).