Declining Gold Price Boosts Sales Of Gold Ornaments In Thailand

[webfact]

Declining gold price boosts sales of gold ornaments
By English News



BANGKOK, April 25 - The slump and volatility of the gold price has created a new phenomenon with sales of gold ornaments surging by 40 per cent in the last several days, according to a Thai gold trader.

Tanarat Pasawong of Hua Seng Heng Gold Futures Co said his shop has increased production of gold necklaces from 3,000 strings to 5,000 strings a day thanks to the record sales for the past 21 years.

The gold price in the global market remains on a declining trend at around US$1,300-1,400 per ounce while the local price is Bt19,500 per baht weight, he said.

The local gold price has slightly struggled up but gold owners may sell their precious metal in the short term, he said, adding that the Thai public are cashing on in the sliding gold price to build stocks of gold ornaments.

Some buyers said they bought the metal to prepare for their weddings at the year's end, said Mr Tanarat. (MCOT online news)


-- TNA 2013-04-25

[Locationthailand]

Good move - it will come back and a lot of the pro pundits are predicting gold will hit USD5,000 an ounce and silver around USD120. If countries keep printing money to pay debt you can bet that will happen sooner than later.

[kiniyow]

Buy for sure..Why would anyone Lose there Faith in Gold...Just take a hard look at the worlds economys~~~

[HerbalEd]

Good move - it will come back and a lot of the pro pundits are predicting gold will hit USD5,000 an ounce and silver around USD120. If countries keep printing money to pay debt you can bet that will happen sooner than later.

Yes indeed. We all know how accurate those pro pundits are.

[stoli]

Good move - it will come back and a lot of the pro pundits are predicting gold will hit USD5,000 an ounce and silver around USD120. If countries keep printing money to pay debt you can bet that will happen sooner than later.

These "pro pundits" are just trying to get the gullible to buy into the market to raise the price some, and then they will unload the gold they have taken a bath on by buying at $1700 an ounce. This is commonly done. Tout anything that you intend to sell.

[F430murci]

Good move - it will come back and a lot of the pro pundits are predicting gold will hit USD5,000 an ounce and silver around USD120. If countries keep printing money to pay debt you can bet that will happen sooner than later.

Not in our lifetime.

[Joe Mamma]

If the world economic slump tightens up and things do finally get to normal. Gold will take a big shit. Gold loves hard times and is only good for these weakened financial markets. People should be buying up gemstones that are at a all time low. Wait for the next gold meltdown as adjustments will happen according to the health and climate of the recovering declines.