BANGKOK, 9 August 2011 (NNT) – People are flocking to buy gold for speculation after domestic gold price yesterday hit a new record high with a tendency to go up non-stop.
Throngs of gold buyers visited gold shops everywhere after the gold price yesterday increased by 650 baht per one-baht weight. Most of them came to buy more than sell as they expected that gold price would skyrocket further due to the US economic situation.
As of 12.28 hrs on Tuesday, gold bullion is bought at 24,900 baht and is sold at 25,000 baht per one-baht weight. Gold ornament is bought at 24,544.04 baht and is sold at 25,400 baht per one-baht weight.
Due to inadequate gold supplies, gold shops mostly have to issue reservation slips for gold buyers to collect their gold later in the next seven or ten days.
Reporter: Sarun Saelee – NNT