Gold price hovers at Bt12,000 (US$319.75) threshold

BANGKOK: -- The price of gold is projected to climb upwards from the current Bt11,850 (US$316.27) per baht weight to Bt12,000 (US$319.75), according to Jitti Tangsithipakdi, Chairman of Thailand's Gold Traders Association.

Thailand's imports of gold have not risen markedly however, even though the strengthening baht in the past several weeks makes imported gold cheaper, he noted.

The likelihood that retail gold price could reach Bt12,000 reflects the global price situation in which gold is now traded at US$638 per ounce due to activities by hedge fund players speculating over tensions in Iran which affect both energy and gold prices, Mr. Jitti said.

In Thailand, the retail gold price is projected to rise, with pricing volatility continuing well into the second quarter in line with international gold prices.

Mr. Jitti said that despite the strong baht making it cheaper to import, the volume of gold imports has not risen dramatically because many people have sold the gold they saved at the peak of the price

rise. At the same time, less people are buying, so there is no need to import.

--TNA 2006-05-02

Maybe way off topic (with apologies to George) but don't forget when the girlfriend/boyfriend has more gold than you do, it is time to leave the LOS!

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Remember that when something seems too good to be true, it is usually not!

Edited May 1, 200620 yr by bobfla

Maybe way off topic (with apologies to George) but don't forget when the girlfriend/boyfriend has more gold than you do, it is time to leave the LOS!

What a silly post !

totster

Oh My Buddah! Think twice about passing any gold shops with the gf in tow.

I'm just happy i made the investment in gold when it was at 5000 per baht