Golden opportunity for shoppers as jewellery price rises
Golden opportunity for shoppers as jewellery price rises
The price of gold jewellery in Laos is rising steadily, moving from a sale price of 4.9 million kip last month to more than 5 million kip in the middle of this month.
Yesterday a gold shop in Talatsao Shopping Mall was selling gold for 5 million kip per baht-weight, which is about 15 grams, and purchasing it for around 4 million kip per baht-weight depending on quality and wear.
The owner of the Phouvong Jewellery Shop, Ms Buachanh Phamisith, said the price of gold had increased marginally over the past month but had been relatively sta ble.
“I think it will continue to vary in the next few months because of the varying price of gold on the world market,” Ms Buachanh said.
Lao people prefer to buy gold accessories to stockpile rather than saving cash.
One buyer, who asked not to be named, said he bought a one baht-weight gold necklace for 4.9 million kip last month.
“Early this month I bought another baht-weight for 5 million kip. Compared to last month, the price per baht-weight has increased several hundred thousand but it is still affordable at this price,” he said.
While the price of gold is rising, buyers are still out in droves purchasing jewellery in Lao markets while it remains relatively cheap.
vientiane times
