Gold price surges due to European economic crisis

BANGKOK, 19 June 2010 (NNT) – President of the Gold Traders Association (GTA) Jitti Tangsitpakdee said the gold price in the global market continued to rise as investors were stocking gold to prevent risks from the European economic crisis.

Mr Jitti said that the gold price was likely to continue to escalate after international investors had started stockpiling the precious metal in fear of the impact from the European economic recession, which was yet to be resolved.

The gold price in the global market has made a new high at 1,256 USD per ounce. Although the gold price in Thailand has not reached as high as in last December, it has a tendency to keep rising, and a record-breaking figure could be seen.