Gold price may touch 1,600 US dollars by year’s end

BANGKOK, 22 April 2011 (NNT) – The global gold price will possibly hit a new high of 1,600 US dollars per ounce by the end of the year while the domestic price may rocket to 22,000 baht per one-baht weight in the third quarter.

YLG Bullion and Futures CEO Tipa Nawawattanasup stated that the gold price in Hong Kong’s market on Thursday opened at 1,508 US dollars per ounce, which was a new record; therefore, the resistance line has been changed to 1,530-1,550 US dollars per ounce.

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