September 19, 2008
Bangkok - People in Bangkok rushed to sell gold at Yaowaraj gold shops in a hope to make nearly one-thousand-baht profit in a day. Investors were warned of fluctuating prices.
Gold prices fluctuated much after foreign financial institutions sold off shares and invested in gold.
Profit-takers were warned of fluctuating prices.
Fluctuating prices were caused by world gold prices which had 30-40 US dollars of change in a day.
The price fluctuation was unprecedented and would be at least 5-10 US dollars of change.
Jitti Tangsithipakdi, president of the Gold Traders Association, said the gold situation was critical and there were twice price adjustments on some days.
Investors invested in gold to make money or avoid investing in the stock market after Lehman Brothers crisis.
BT Asset Management Co launched its fourth fund: BT FIF Gold Link Fund 4 open-ended fund. Selling period will be until September 30.
