Gold price up 300 baht today

  • Test
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.