People sell gold for cash during flood | Bangkok Post: business

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People sell gold for cash during flood

During the flood, apart from stocking up on food and water, people are keen to turn their gold into cash for emergencies, though it doesn't hurt that global gold prices are up, says MTS Gold Futures chairman Kritcharat Hirunyasiri.

Kritcharat: No one in the mood to buy now

"Customers around Greater Bangkok are coming to our shops at either The Old Siam or Wong Wian Yai to sell their gold assets. They thought it best to keep cash instead of gold for emergencies," said Mr Kritcharat.

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Writer: Darana Chudasri
Position: Business Reporter

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  • jpk

    ThailandPost : 42

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    Discussion 1 : 29/10/2011 at 03:06 AM1

    Interesting that the price of gold on the international market has not fallen, but the price of gold in Thailand is lower.

    Of course people are selling. And of course the gold merchants are ripping them off.

    Profiteers should be punished severely, but that will never happen. I pity the Thais and their blind trust of a corrupt system.

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