Gold price remains high next week

BANGKOK, 28 February 2010 (NNT) – The gold price is expected to increase gradually next week, the first week of March 2010, due to the price fluctuation in the global market, according to the Gold Traders Association.

Gold Traders Association Deputy Secretary-General MD Kritcharat Hirunyasiri forecasted that next week’s gold price would be on the rise after the price in the global market was likely to fluctuate in the range of 1,115-1,130 USD. He added that the price might break the resistance line at 1,130 USD; therefore, the domestic gold price would not reduce yet.

The current buying rate of gold bullion is quoted at 17,400 THB per one-baht weight and the selling rate at 17,500 THB per one-baht weight.

Meanwhile, the price of gold ornaments is quoted at 17,145.96 THB per one-baht weight for buying and 17,900 THB per one-baht weight for selling.