Thailand Gold Shops Run Out of Gold

After reading a story on silverdoctors.com about the gold stores in Bangkok's Chinatown running out of Gold (see story here) I thought I would check the situation with my cousin who lives in a provincial capital in central Thailand.

Here is her report:

9 April 2013

Greg. They are so busy everyday. Thai people think that if they buy the gold as they can, they will get more profit of gold (when the gold price is up).

Because of interest, buying gold is better than depositing the money at Bank and it is better than investing the stock exchange too. So the gold shop is lack of them. (I love the fact that my cuz is a bank teller but realises that gold is better than money in the bank ~ tears)

Now, the gold price in Thailand is :

Gold Bullion:

Buying 21,600 B.
Selling 21,700 B.

Gold Ornament:

Buying 21,284.64 B.
Selling 22,100 B.

The gold price has been down about 50-100 B. per day