Thai gold demand still powerful
Thailand's gold demand remains robust thanks to investor buying during times of economic and political uncertainty, while inflation and risks posed by Donald Trump's America-first agenda could drive demand for bullion further in 2025, says the World Gold Council (WGC).
In contrast to a 9% global decline, Thailand's consumer bar and coin demand increased 15% year-on-year in the third quarter of 2024, with the country the largest buyer of bars and coins in Southeast Asia, said Shaokai Fan, head of Asia-Pacific (ex-China) and global head of central banks at the WGC.
Consumer gold demand recorded remarkable resilience across 2024, becoming the asset of choice for Thai investors during economic and political uncertainty in the country, he said.
"Thai investors view gold both as a means of value protection and for
long-term returns, as bar and coin investment in Thailand remains particularly
robust," said Mr Fan.
Globally gold performed well last year, with prices rising by 25.5% and outperforming all major asset classes, likely due to its role as an effective hedge against heightened geopolitical uncertainty and market volatility, noted the WGC.
Source:
https://www.bangkokpost.com