Several gold shops have decided to close temporarily, saying it would be their only chance to stem further losses after the price of gold sunk to a two-year low. The bearish trend is set to continue.
The owner of Aurora Gold shop on Sukhumvit Soi 103 said she decided to close shop yesterday and has yet to decide when to resume business.
"I took this chance to make minor renovations instead of opening the store only to lose more cash. Since the week began, the sharp fall in gold prices prompted people to rush to the shop to buy gold. Our gold bullion is out of stock and we are not going to place orders until the global prices settle," she said.
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