Yaowarat is always busy by people

[snoop1130]

Yaowarat is always busy by people

 

 

Bangkok’s Yaowarat area was busy on Wednesday (April 15) as many people decided to go out to stock up on food with facemasks.

 

On Tuesday (April 14), long chaotic queues were seen outside gold shops in Yaowara, as many people decided to sell off their gold ornaments after the price of the precious metal rose sharply by Bt550 per baht weight.

 

Jitti Tangsitphakdi, president of the Gold Traders Association, said that many gold shops were suffering cash-flow problems because people are rushing to sell their gold, and that not many are buying.

 

Meanwhile, though the rate of new Covid-19 patients is dropping in Thailand, people are still sporting face masks to protect themselves.

 

Source: https://www.nationthailand.com/news/30386060

 

-- © Copyright The Nation Thailand 2020-04-15

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[BigBadGeordie]

4 hours ago, snoop1130 said:

Yaowarat is always busy by people

OK, run that one by me again.

[DaRoadrunner]

4 hours ago, snoop1130 said:

long chaotic queues were seen outside gold shops in Yaowara, as many people decided to sell off their gold ornaments after the price of the precious metal rose sharply by Bt550 per baht weight.

I doubt they are selling due to the price. More likely this is a sign of panic as, due to Corona Virus caused unemployment, Thais run out of money and are forced to sell their gold to buy food. How long before the people turn on the rich elite?

[grumpy 4680]

     Thais tend to use gold as a form of banking, as they tend to get better interest, But same as the Pound, things tend to backfire when you least expect it.