Thailand Gold prices signal early gains
Earlier, Gold Traders Association of Thailand said the price of gold in Thailand could climb 10 per cent this year from its top spot at 27,000 baht per ounce last year.
Gold prices in Thailand showed positive trends in the first three days of the year as predicted by Gold Traders’ Association.
The Gold Traders Association Thursday set buying prices at 23,846.68 baht per baht-weight for gold ornaments and 24,200 baht per baht-weight for gold bar.
The selling prices were set at 24,700 baht per baht-weight for gold ornaments, and 24,300 baht per baht-weight for gold bar.
The gold prices went up 50 baht from Wednesday close. The buying prices Wednesday closed at 23,801.20 baht per baht-weight for gold ornaments and 24,150 baht per baht-weight for gold bar.
The selling prices closed at 24,650 baht per baht-weight for gold ornaments, and 24,250 baht per baht-weight for gold bar.
Earlier, Gold Traders’ Association of Thailand said the price of gold in Thailand could climb 10 per cent this year from its top spot at 27,000 baht per ounce last year.
However, there would not be a sharp rise as compared to 33 per cent in 2010, 10 per cent in 2011 and around 5-8 per cent last year, it said.
Meanwhile, investors are advised to stay cautious of pressing factors, especially from the easing of financial restrictions by major central banks, the US fiscal cliff and the European debt crisis, all of which may impact the investment market throughout this year.
Also, gold price movements could become volatile due to persisting gold demand in China and India, which are holding gold as reserves in place of the weakening US dollar.
Sumber : Google
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