The local gold bullion price sank to as little as 17,700 baht per baht-weight yesterday after the global spot price plunged to a 34-month low of US$1,180.50 an ounce, but gold traders say the worst is yet to come.
People wait to buy gold at a Hua Seng Heng branch on Yaowarat Road after prices fell sharply yesterday. PAWAT LAOPAISARNTAKSIN
Spot bullion in the domestic market swung wildly. The price of gold bullion sold to gold shops closed at 17,700 baht per baht-weight, down from 18,150 baht the day before.
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