ID :
199856
Mon, 08/08/2011 - 14:50
Auther :
Shortlink :
http://m.oananews.org//node/199856
The shortlink copeid
Gold hits new highs in Thailand
BANGKOK, August 8 (TNA) - Gold prices in Thailand rose nine-fold as of Monday, with gold bars selling at 24,100 baht per baht-weight from 23,850 baht previously, and gold ornaments at 24,500 baht per baht-weight from 24,250 baht.
President of the Gold Traders Association Jitti Tangsitphakdee confirmed the price hike as gold shops across Thailand were sold out due to an overwhelming amount of gold trading in the day.
Jitti noted despite the latest increase, gold traders expected gold prices to continue rising even further.
The gold traders association president however, warned investors to remain cautious as gold prices had increased by as much as 250 U.S. dollars per ounce since July, and there had not been a correction.
He added that they should monitor developments in the U.S. and European stock markets and how gold prices would respond to the downgrade of the U.S. credit rating. (TNA)
President of the Gold Traders Association Jitti Tangsitphakdee confirmed the price hike as gold shops across Thailand were sold out due to an overwhelming amount of gold trading in the day.
Jitti noted despite the latest increase, gold traders expected gold prices to continue rising even further.
The gold traders association president however, warned investors to remain cautious as gold prices had increased by as much as 250 U.S. dollars per ounce since July, and there had not been a correction.
He added that they should monitor developments in the U.S. and European stock markets and how gold prices would respond to the downgrade of the U.S. credit rating. (TNA)
