RI gold outflows may stop

RI gold outflows may stop

SINGAPORE (Reuters): Panic gold selling from Indonesia may stop for a few weeks but gold outflows are not likely to halt indefinitely as the nation is still awash in uncertainties, bullion traders here said yesterday.

"The market has been very quiet since last week. When Indonesians came to Singapore during the riots, they did not bring much with them," said a bullion dealer.

"And those in Indonesia were unable to sell because of some domestic restrictions," the dealer said.

Gold bars and scrap jewelry outflows from Indonesia, mainly to Singapore, were active earlier this year before slowing down in the past few weeks.