Page 19 - Bullion World Volume 04 Issue 07 July 2023

Bullion World | Volume 3 | Issue 7 | July 2023

Mr Nuttapong (Golf) Hirunyasiri, Mr Nuttapong also spoke about
Managing Director at MTS Gold the trends in the Thailand market;
Group, Thailand, almost 75% of the jewellery factories
highlighted the Thailand gold are Green Industries, which allows
dynamics since 2020, which are as Thailand to prioritize building on
follows:- a sustainable and environmental
1. 2020 - The rapid increase in efficiency basis. Secondly, many
gold prices led to a significant jewellery manufacturers have
sell-off of gold by investors become members of RJC, certifying
2. 2021 - Gold price fluctuates their precious metals are responsibly
based on global markets and sourced.
domestic factors (political and
the strength of the Thai baht) There are efforts to embrace new
3. 2022 - Investors look to gold as systems like OTC trading, digital
a hedge against inflation, which and exchange trading, which will Mr Nuttapong (Golf) Hirunyasiri
increased buying demand increase local participation. New
4. 2023 - Thai gold price (Purity digital platforms and gold wallets are
96.5%) reached an all-time high being introduced
of 32,965 baht in May

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