Gold prices in Thailand fall sharply on opening Wednesday

BANGKOK, April 17 (TNA) - Gold prices in Thailand tumbled sharply by 2,350 baht per baht-weight from last Friday, as people rushed to buy gold for speculation as trading resumed Wednesday at the end of Songkran holidays. According to the Gold Traders Association, the buying price of gold bars is now set at 18,900 baht per baht-weight while the selling price is 19,000 baht. For gold ornaments, the buying price is set at 18,631.64 baht per baht-weight and the selling price is 19,400 baht. Jitti Tangsithpakdi of the Gold Traders Association had urged investors not to rush into buying gold, saying gold prices had become volatile and had dipped 100 U.S. dollars per ounce overnight. He said the gold price in Thailand had dropped below 20,000 baht per baht-weight while the Thai currency, the baht, was appreciating against the greenback. (TNA)