Gold prices down B50 to B19,850

Gold prices down B50 to B19,850

The Gold Traders Association this morning announced the buying prices at 19,389.64 baht per baht-weight for gold ornaments and 19,750 baht per baht-weight for gold bar. The selling prices were set at 20,350 baht per baht-weight for gold ornaments.

Quote of the Day
“I also found myself thinking: the English may finally have decided they have had enough of their experiment with the American financial way of life. If what happened in the Western world financial system had happened at another time in history, there would have been an obvious political response: a revolt against the Roger Younts of the world and, more generally, the grotesque inequities spawned by the putatively free financial marketplace. If the memory of British socialism wasn’t so fresh—if people didn’t still recall just how dreary London felt in 1980—they’d be pulling down the big banks, and redistributing the wealth of the bankers, and it would be hard to find a good argument to stop them from doing it. The absence of the satisfying political response to the financial crisis is due, at least in part, to the absence of an ideological vessel to put it in. No one wants to go forward in the same direction we’ve been heading, but no one wants to turn back either. We’re all trapped, left with, at best, the hope that our elites might experience some kind of moral transformation.” – Michael Lewis, author, The Big Short and Moneyball

 

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