A recent increase in gold prices has led to some people selling off the gold they were holding for cash, while some investors have turned to gold as an option to diversify risks. The Gold Traders Association says the gold price may continue to increase slightly, but the situation will not affect the liquidity of gold traders in the country.
The Gold Traders Association expects gold prices in Thailand to continue rising slightly, following a recent increase of 700 baht per 15.16 grams of gold in the past couple of days.
Its President Jitti Tangsithpakdi said the recent price increase was fuelled by an investment shift towards gold by investors across the globe, following the banking crisis in the United States. Such an increase has many people in Thailand rushing to gold shops.
Jitti said some people have however opted to purchase gold as an alternative investment option.
A gold retailer Ausiris has introduced the new Gold Shop Next Gen concept for customers looking for jewelry, enabling online transactions and a new gold savings service to meet the changing demand. (NNT)