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Thailand Gold Prices Rise to Record High

Prices of gold at market open was at US$1,853 per ounce and moved to set at US$1,870 per ounce.

 

Thailand’s Gold Traders Association announced a Bt300 adjustment of gold prices at local market for the second time on Monday.

A buying price of Bt26,014.56 per baht-weight (15.16 grammes) is for gold ornaments, and selling price of Bt26,900, according to the association’s president Jitti Tangsithpakdi.

The buying price of gold bar was at Bt26,400 per bath-weight and the selling price at Bt26,500 per baht-weight, he said.

The world’s gold price has risen to US$1,874 per ounce, which was highest during intra-day trading.

Prices of gold at market open was at US$1,853 per ounce and moved to set at US$1,870 per ounce.

Gold prices faced the first resistance at US$1,880 and the second resistance at US$1,900 per ounce.

MTS Gold Future Company predicted that gold prices would hit new high at a rapid pace, while price fluctuation will continuously occur due to high demand and supply of gold in the morning at local market. Gold investors to caution in investing in gold.

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Posted by on Aug 22 2011. Filed under Regional News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
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