An improving economy and slowing global inflation is stagnating Pattaya’s gold-sales market.
Banjong Banthoonprayuk, chairman of the Pattaya-Naklua Gold Traders Association, said Dec. 10 that with inflation in the United States slowing and fuel price moving in the opposite direction of gold prices, the sale market is slow.
Prices remain volatile, however. But both consumers and dealers are buying on dips with the expectation that gold prices will rise as the month goes on and people buy gold to give as new year’s gifts.
Gold bars were selling 29,550 baht for one baht-weight while the buying price was 29,450. Gold ornaments were selling at 30,050 and 28,925 for buying.
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