Gold price up 300 baht today

[rooster59]

Gold price up 300 baht today

BANGKOK: The Gold Traders Association today announced the new buying and selling prices for gold with the price going up 300 baht against yesterday's close.

The buying price for gold ornament today is 19,313.84 baht and selling price is 20,100 baht per one-baht weight or 15.2 grammes.

For gold bullion, the buying price is 19,600 baht while selling price is 19,700 baht.

It said the prices today are its first round announcement made at 9 am, while prices could be changed later in accordance with global price change.

Gold Traders Association president Jitti Tangsitpakdi said yesterday local price rise in gold was driven by the baht depreciation.

He forecast further increase in gold prices due to increasing demand during the Chinese New Year festival in the Asian markets.

He said the current prices were not high when compared to prices during the same period of last year.

He attributed two factors that will continue to drive gold prices up to falling crude oil prices and stock markets.

Gold is stabler and safer, he said while advising small investors to partly go for gold in their portfolios.

Source: http://englishnews.thaipbs.or.th/content/149857

-- Thai PBS 2016-01-06

[colinneil]

I am not bothered that gold is up in price.I got no money to buy any.

[BuaBS]

"Gold Traders Association president Jitti Tangsitpakdi said yesterday local price rise in gold was driven by the baht depreciation."

That is BS ! THB gained against the USD , or the USD declined against THB and euro. Gold is up in euro too.

Short squeeze coming up and gold gets its moonshot..... just kidding , traditionally it will get slammed down again after valentine.

"He attributed two factors that will continue to drive gold prices up to falling crude oil prices "

Really ? Lower oil means cheaper goldmine costs and cheaper oil drive nearly all commodity prices down.

Titti .... er Jitti should go work for TAT .

[ggt]

Gold...as an investment...is somewhat like buying insurance on your home...you hope the equity markets and fiat money will maintain their value...but just incase they do not...you are prepared as others scramble to find solid financial instruments...

[bazza40]

Gold...as an investment...is somewhat like buying insurance on your home...you hope the equity markets and fiat money will maintain their value...but just incase they do not...you are prepared as others scramble to find solid financial instruments...

Gold is not an investment. Investments pay interest and dividends. Gold is a currency hedge. As most governments are trying to drive the relative value of their currencies down in order to increase competitiveness globally, I agree - gold is insurance.

The world is awash with debt that cannot be repaid. Alan Bond once said " If you owe the bank 1 million dollars, you have a problem. If you owe the bank 100 million dollars, the bank has a problem."

[bazza40]

I am not bothered that gold is up in price.I got no money to buy any.

Sell your Mercedes.

[mrfaroukh]

It is Chineese festival from 8th to 10th and they present each other with gold so that is the reason for the increase in price

[TheCruncher]

Gold...as an investment...is somewhat like buying insurance on your home...you hope the equity markets and fiat money will maintain their value...but just incase they do not...you are prepared as others scramble to find solid financial instruments...

Gold is not an investment. Investments pay interest and dividends. Gold is a currency hedge. As most governments are trying to drive the relative value of their currencies down in order to increase competitiveness globally, I agree - gold is insurance.

The world is awash with debt that cannot be repaid. Alan Bond once said " If you owe the bank 1 million dollars, you have a problem. If you owe the bank 100 million dollars, the bank has a problem."

But equities is considered an investment, though not all equities pay a dividend, how you explain that?

If most governments drive down the relative value of their currencies, how does that increase competitiveness? If the Euro goes down, and the next day the Dollar goes down, nothing has changed isn't it?

I think something is missing from your investment theory.

[midas]

It is Chineese festival from 8th to 10th and they present each other with gold so that is the reason for the increase in price

So will the price fall back down again on the 11th ?

[Inn Between]

It is Chineese festival from 8th to 10th and they present each other with gold so that is the reason for the increase in price

So will the price fall back down again on the 11th ?

Isn't easy enough to look at the global price and see if the rise in price here jives with the rest of the world? I noticed they specified a different price for ornamental gold, so the Chinese New Year may be a factor.

[thrilled]

Dollar is down,Gold gets more strong.Gold is A hedge.Same if the stock market takes A deep dive.You most likely will see gold go up.

[TheCruncher]

It is Chineese festival from 8th to 10th and they present each other with gold so that is the reason for the increase in price

Looks as if the Chinese are still on a shopping spree for their loved ones.

Gold Apr 16 (GCJ16.CMX)

1,192.80 + 35.10(3.03%) 12:13PM EST