BANGKOK (PNA/Xinhua) -- Gold has become a popular item of gift during Chinese New Year festive season in Thailand, a major gold trader said on Wednesday.
"Gold has become more popular among young people," Jitti Tangsithpakdi, president of Gold Trader Association, told Xinhua in an interview at the Chinatown in Bangkok.
"We expect a better sale this year as gold price has recently dropped slightly," said Jitti, owner of Chin Hua Heng Goldsmith.
He said his shop has come up with various modern designs of gold necklaces to appeal to young shoppers, adding that there were so many shoppers in his shop last Friday that they had to line up to buy.
He said he still expected gold price to climb this year, but the price will be more fluctuating than last year.
"This is good for speculation," he said. "If the price has no movement, people cannot speculate on it."
He said currently the price is already 11-12 percent higher than last year.
Jitti said gold bars have become popular among buyers as they fetch better price than gold that has been made into jewelry. (report from Manila Bulletin)
