World gold prices on the rise

BANGKOK, January 13 (TNA) - Thailand's Gold Research Center has foreseen that the world gold price should increase during the first half of this year, as international investors are moving to gold from equity markets, which had expanded for two years. The center's director, Kamoltun Pornphaisarnvichit, told journalists that the global gold price should move between 1,050 and 1,350 US dollars per ounce, while the gold price on the domestic market should move between 16,800 and 20,500 baht per baht weight at the exchange rate of 33 baht a US dollar. Kamoltun assessed that the global gold price this month should be close to the previous month at 1,120-1,240 US dollars per ounce, while the gold price on the domestic market should move between 17,000 and 19,500 baht per baht weight. Meanwhile, the Gold Price Sentiment Index has continued to increase for the second consecutive month in January 2015 to 58.33 points. The index above 50 showed the possibility of profits from the gold price, cushioned by the weakening baht, rising gold demand for important festivals, Indians' celebrations for their wedding festival and investors' moving their funds from stock markets to gold to avoid economic uncertainty. The Gold Price Sentiment Index for the next three months, however, drops to 47.87 points, as international investors and gold traders appear to be concerned over a possible increase of the US key interest rate and declining global oil prices. (TNA)