Thais prefer to buy baht-weight gold ornaments

BANGKOK, Jan 8 (TNA) -- Most Thais prefer to buy and own a baht-weight (15.16 grammes) of gold ornament and opted to sell in case of needing money, said Jitti Tangsithpakdi, chairman of Thailand's Gold Traders Association. Citing a recent survey conducted on 926 people throughout Thailand, Mr Jitti said the survey found that 68 per cent of the total respondents bought ornamental gold before for used as decorating themselves or as necklace for carrying Buddha amulets. Mr Jitti said 95 per cent of respondents said they had bought gold necklace or ring or bangle. Most of the respondents said they preferred to buy a baht-weight of ornamental gold and spent between 20,000-50,000 baht each time of buying. He said 45 per cent of the respondents said they sold the ornamental gold whenever they needed money. They sold after owning them slightly over six months only. On bullion gold, 20 per cent of the total respondents said they used to buy for investment and for gift. Again, its weight is about one-baht and costs lower than 50,000 baht and buyers expect to make profit of over 1,000 baht when they sell it. (TNA)