Investors rush to sell as gold rises by Bt250

By THE NATION

 

 

Many investors cashed in on gold again this week when the price of the precious metal rose by Bt250 on Wednesday (July 29) morning.

 

As of 10.12am, the price of gold bars had risen to Bt29,050 and Bt28,950 per baht weight for selling and buying respectively, rising by Bt250 per baht weight compared to the closing price on Tuesday.

 

Reports said many investors rushed to the “Hua Seng Heng” gold shop at United Centre Building in Silom to sell off their gold. 

 

One investor said he owns some 100 baht weight in gold and expects the sale of it to produce about Bt100,000 in profits. Like others at the shop, he too said this was the best time to sell gold, because its price will drop in the future. 

 

As of 12.12am, the price of gold in world markets had risen by US$2.5 to $1,947.10 per ounce.

 

Source: https://www.nationthailand.com/news/30392094

 

-- © Copyright The Nation Thailand 2020-07-29

 

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depends on how much longer leaders will <deleted> away money on economy shutdown,

will they snap out of it and admit the covid hysteria was a brain fart ? 

i think not, they will want to be seen as saviors to get reelected,

that they did the right thing 

5 minutes ago, scammed said:

depends on how much longer leaders will <deleted> away money on economy shutdown,

will they snap out of it and admit the covid hysteria was a brain fart ? 

i think not, they will want to be seen as saviors to get reelected,

that they did the right thing 

One would think it could end up being an election issue in many countries.

 

Time will tell if the general population follow your theory. In that

case people like Trump are likely to get elected back, whereas those who prefer to cower in fear are more likely to go with politicians like sleepy Biden.

 

Sadly i think the panicked fear-mongers will take it out though.

 

For me, I just wish Australia could get rid of a few idiot premiers.

46 minutes ago, webfact said:

Investors rush to sell as gold rises by Bt250

These are certainly not investors, but rather speculators looking for a quick profit.

 

Luckily for the real investors, their actions have no repercussion on the price of gold...

6 hours ago, webfact said:

One investor said he owns some 100 baht weight in gold and expects the sale of it to produce about Bt100,000 in profits.

Wow.  Big investor/s.  ????

Buy low, sell high; alternatively, many people may be having cash flow problems cos of Covid 19; a combination of the two, I would guess.

13 hours ago, webfact said:

One investor said he owns some 100 baht weight in gold and expects the sale of it to produce about Bt100,000 in profits.

Bought at 28,000 and selling at 29,000?

 

”Picking up pennies in front of a steamroller” comes to mind.

 

 

 

 

I wonder how many of them are going to buy Bitcoin with the cash they get from their gold sales.

My Mrs wanted to sell hers for 25,000 baht the other day, I more or less said hold on, you don't need to sell, maybe when it hits 30,000 baht she could sell and then rebuy when it drops, she paid on average 12,000-15,000 for her various purchases over the years, smart girl my Mrs, maybe she can shout me a holiday now ????

 

Just told her to look at how much she can get, as it's getting pretty close.