Gold prices turn its way down on Tuesday as the central bank of China revise the interest rate to cope inflation. The interest rate hike is expected as many developing country in Asia, especially China is pressured by the rising inflation rate.
After China, I foresee other central bank of neighboring countries like Taiwan, Singapore and Malaysia will follow the step of China to review their interest rate. This effect will further pull down the gold price.
To me, further drop of gold price is good news to me. I m now waiting for the right price to buy gold bullion. How much time should I wait?