Gold Price May Reach Up To 12,000 Baht Next Year

[Jai Dee]

Gold price can reach up to 12,000 baht next year

Gold dealers predicted that the price of gold can potentially rise up to 12,000 baht per one baht of gold ornament next year.

One of the gold dealers in Yaowarat, Mr. Kasemsak Pol-yiam, revealed that gold price tends to increase in 2007 because more people have been collecting gold instead of saving their cash.

They can purchase gold ornaments in order to wear them, or they can also resell them to generate more profits when its price moves up.

The gold shop owner admitted that the gold trading for this year is not better than last year because its price has continually increased, forcing some goldsmiths to leave their jobs.

Source: Thai National News Bureau Public Relations Department - 27 December 2006