Summary
Yesterday people waited in long queues at gold shops in Yaowarat, the centre of gold trading, but this time around, they came to sell not buy because the local price of gold jumped by 900 baht , a record one-day increase, prompting people to flock to gold shops to sell their precious metal. The price soared in line with world benchmark prices in New York, which leapt 11.6%, a record one-day percentage gain, or US$90.40 to $870 per ounce on Wednesday. Investors pulled money out of equities and moved into safe-haven assets due to credit market turmoil on Wall Street. In Thai one-baht-weight (15.16 grammes) gold buying prices opened at 13,700 baht yesterday morning, up from 12,700 the day before. The price eased to 13,550 baht by noon but rebounded back to 13,600 at day's end.
Personal Response
I think this is a very good news and I’m happy with this because I get a profit from the gold jump a lot too.I think when the gold price went down,we should go to buy it and sell it when a price jump a lot.This is a one way to get a lot of profit but doesn’t have too much chance.However this way also has an exception because only people that have a lot of money can do this because nowadays a price of gold is more expensive than in the past a lot.Some people have not much money then they can not buy a lot of gold to get a profit but only buy some little gold for use when they need.
Fromhttp://www.bangkokpost.com/190908_Business/19Sep2008_biz26.php
Mr.Nawaporn Phetkaeo No.14 Sect.6201 ID:1500205909
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