Local gold prices at 6-yr low
Thailand (July 21) Long queues form at gold shops as local gold prices have fallen to a six-year low. Gold bars are sold at Bt18,100 per baht weight, the lowest since April 2010.
On Monday, gold fell as low as US$1,072 per ounce in Asia trade from around $1,145 at the end of last week, before pulling up to $1,097 late in the day on New York’s Comex board.
According to AFP, traders said massive selling in China, where financial markets have been extremely turbulent generally, was behind the drop.