In Thailand, all that glitters is probably not gold

By Ploy Chitsomboon and Apornrath Phoonphongphiphat

BANGKOK (Reuters) - Thailand's sluggish economy and record gold prices have prompted many elderly Thais to cash in family heirlooms as they struggle to make ends meet.

"This is family jewellery," said Thai-Chinese grandmother Pannee Sae Kaow, standing outside a gold shop in Bangkok's Chinatown clutching a tarnished gold necklace given to her years ago by her mother.

"The economy has left me no choice but to sell it," the 78-year-old said forlornly. "Everything is more expensive and it's tougher to live in a time like this. We're not rich people."

Like many of Thailand's 65 million people, Pannee, who makes just 6,000 baht ($185) a month from a small dumpling stall, is not alone in battling soaring inflation stemming from high oil prices and an economy laboring after two years of political strife, including a 2006 coup.

"I have to work so hard to keep paying my bills," said Jureerat Pongkum, who works part time at a Bangkok coffee shop.

"Prices keep going up but the quantity of food or things you get is still the same. Our pay is still the same," the 24-year-old said as she wiped down a counter top.

"This is my first job after college but it's not going to be enough. I'm looking for more part-time work," she said.

"What can you do? You have to eat and live your life."