Page 24 - Bullion World Volume 02 Issue 02 June 2022_Neat

Bullion World | Volume 2 | Issue 02 | June 2022

The best time to buy a
CombiBarTM was 10 years ago.

The second best time is now.

and tourism is a significant growth development in which physical gold China, India, the USA, Germany, and
engine of the Thai economy. investment will be an essential pillar Turkey, respectively.
However, with the worldwide in Singapore's wealth management
lockdown, tourists' arrival came to positioning. Like Singapore, Thailand is also
a halt, hurting the Thai economy. preparing to normalise the travelling
As a result, many households faced Given Singapore's strategic and quarantine requirements by
financial hardship, and household geographical location, this may not easing more travel restrictions. We
debts registered around 84% of the surprise many bullion counterparties saw Thailand come back with a
GDP in 2020. Understandably, many and participants. Within three reasonable demand on the physical
families have resorted to selling their hours, flights would reach most of front after disinvestment in the
gold jewellery and precious metals to the capitals in the Southeast Asian previous year.
raise desperately needed cash. This countries. Moreover, by adding
development explained the massive another 2 hours, one could get The affinity for gold has never
wave of physical gold disinvestment many major Asian cities located in changed for the Thai people, even
in 2020. China, India, Japan, Hong Kong, and during the Covid-19. With the
Taiwan. ongoing war between Russia and
Now: - Ukraine and as we continue to face
Recently, Singapore eased most of On the other hand, Thailand, a global supply chain disruption, the
the border restrictions, and travelling Southeast Asia country which is attractiveness of gold as a haven
to Singapore is almost like before not very far away from Singapore, and protector during financial
the Covid-19 crisis. Interestingly, is also playing a critically important uncertainty will remain as strong as
before this easing, we are already role in the gold industry. Before the ever.
witnessing more and more pandemic, the data from the World
international investors, particularly Gold Council for 2015-2019 shows
Asians and Europeans, buying and that Thailand was in pole position for
storing physical gold in Singapore. gold consumption in Southeast Asia
This trade is undoubtedly a positive and sixth position in the world after

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