ID :
180390
Fri, 05/06/2011 - 13:31
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http://m.oananews.org//node/180390
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Thai stock and gold prices plunge
BANGKOK, May 6 (TNA) - Thai stock and gold prices plunged on Friday in accordance with overseas prices and the global oil situation.
The world gold prices have dropped, as international investors are dumping gold for buying the stronger US dollar instead.
However, the Gold Traders Association of Thailand has warned investors to wait and monitor the fluctuating situation for a while, as global gold prices may fall further because its lately surge was due mainly to speculations.
The local gold prices dropped on Thursday, from Wednesday, by as much as 500 baht per baht weight, as the buying price of gold bars stood at 21,250 baht per baht weight and the selling price at 21,350 baht per baht weight on Friday morning; while the buying price of gold ornaments was 20,935.96 baht per baht weight and the selling price at 21,750 baht per baht weight.
Meanwhile, the Stock Exchange of Thailand (SET) index also dropped in line with regional trend. The SET index fell 13.99 points or 1.30 per cent to close at 1,059.88 points at the end of the morning session at around Friday noon, with a total turnover of some 23.19 billion baht. (TNA)
The world gold prices have dropped, as international investors are dumping gold for buying the stronger US dollar instead.
However, the Gold Traders Association of Thailand has warned investors to wait and monitor the fluctuating situation for a while, as global gold prices may fall further because its lately surge was due mainly to speculations.
The local gold prices dropped on Thursday, from Wednesday, by as much as 500 baht per baht weight, as the buying price of gold bars stood at 21,250 baht per baht weight and the selling price at 21,350 baht per baht weight on Friday morning; while the buying price of gold ornaments was 20,935.96 baht per baht weight and the selling price at 21,750 baht per baht weight.
Meanwhile, the Stock Exchange of Thailand (SET) index also dropped in line with regional trend. The SET index fell 13.99 points or 1.30 per cent to close at 1,059.88 points at the end of the morning session at around Friday noon, with a total turnover of some 23.19 billion baht. (TNA)
