Stock market, gold down

 The Stock Exchange of Thailand Index today continued yesterday's loss. The index ended the morning session 11.32 points lower or 1.11 per cent, to 1,012.16 points. Brokerage houses expect the index to remain volatile until the end of this month, mainly on concerns of the eurozone debt crisis as well as Thailand's post-flood economic recovery. 

The marekt ended the day in the positive territory, gaining 0.68 points or 0.07 per cent to 1,024.16 points, on turnover of Bt25 billion.

 Tisco Securities expected the index to swing in the range of 990-1,050 points from now until the end of this month.
 Global investors are adopting a risk-free position, unloading the euro and risk assets including equities and gold on concern of further euro depreciation against US dollar, in light of growing possibility of double dip recession. Worsening the outlook is rating agencies' preparation to downgrade sovereign debt ratings of eurozone countries.  The only positive factor that could pull up the SET index is new investment in long-term equity funds (LTFs) and retirement management funds (RMFs). Asia Plus Securities and Tisco Securities expected the net investment to hit Bt10 billion.
 Phillip Securities expected the SET index to end this year at around 1,014 points.
 As the euro fell to the 11-month low against US dollar, gold prices also slumped.
 According to Gold Traders Association, domestic physical gold prices were cut by Bt850 per baht weight in the morning, before a Bt50 increase at 11.31am.  Ornament gold then was sold at Bt23,950 while gold bar at Bt23,550. It was reported that the lower prices drew huge traffic to gold shops, and buyers have to queue up for the purchases.