Thais Flock to Gold Stores to Sell Gold

Thais sell their gold after the price of gold has increased by 900 ฿. The buying price rose to ฿31,900 per baht and the selling price to ฿32,000 per baht.

According to reports from gold stores, people came in droves to sell their gold. Long queues are said to have formed in front of the stores, shopkeepers report.

As for today’s gold price, after the last announcement, the price of gold bullion in the country was ฿31,100 per baht, while the selling price was ฿31,200 per baht. For 96.5% gold jewelry, the buying price is ฿30,547.40 per baht while the selling price is ฿31,700. The spot price for gold is $1,979.55 per ounce.

Rising cost of living, profit making and fear of theft are the main reasons why many stand for hours in front of the gold stores to sell their gold. In recent times, however, there have been repeated news reports of robberies of gold stores. This has created the appearance of increased crime in relation to gold.

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