February 12, 2009
Bangkok (ASTV Manager Online) – Mr. Jitti Tangsithpakdi, president of the Gold Traders Association of Thailand, said that gold price tended to rise more and might reach 15,450 baht within a month.
Increasing gold prices are because the US financial crisis has not been solved yet. As a result, people have bought gold to reduce risk.
The gold situation is normal now. Gold selling has continued for three weeks already.
World gold price rose 30.30 US dollars per ounce to reach 944.50 US dollars per ounce.
The domestic gold price went up 300 baht per one-baht weight this morning. Gold bar was sold at 15,350 baht whereas gold ornaments at 15,750 baht.
Jitti believed gold is still the most attractive asset to invest in at the moment.
Worldwide investors have bought gold for hoarding due to unclear direction of the US economy.
Gold offers the best value for money compared to investment in stocks and oil.
People have continually sold their gold since the Chinese New Year.
