by Paul Rujopakarn

BANGKOK (NNT) - Demand for gold in Thailand was the third highest in Southeast Asia in 2022, as the metal remains popular as a financial hedge in times of global uncertainties.

 

According to the World Gold Council (WGC), gold buyers in the ASEAN region have also been encouraged by China’s reopening, which has rapidly restored the region’s business activity to pre-pandemic levels.

 

The Gold Demand Trend 2022 report named Vietnam as the biggest buyer of gold in ASEAN with 69.1 tonnes, followed by Indonesia with 50 tons and Thailand with 37.9 tons.

 

The WGC said Thailand saw a modest increase in gold demand of 3% year-on-year. The higher gold demand in Thailand was supported by a 15% year-on-year increase in demand for jewelry, followed by an 8% year-on-year increase in bar and coin demand.

 

Overall demand for gold in ASEAN and around the world remains strong. High inflation, central bank policies, global economic uncertainty and geopolitical concerns have prompted investors to seek safe haven assets to preserve their portfolios.

 

The WGC believes that gold will continue to see at least modest demand this year, given the current uncertainties and high inflation. Most investors consider gold to be a non-interest-bearing asset that is worthwhile to retain.

 

Key findings from the 2022 global gold demand report revealed that gold remains essential in a recessionary and inflationary environment.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG230208111914125

 

-- © Copyright NNT 2023-02-08

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

The most versatile and flexible rental investment and holiday home solution in Thailand - click for more information.

Only 96.5% i wouldnt buy it , whats the other 3.5% ?

1 hour ago, keith101 said:

Only 96.5% i wouldnt buy it , whats the other 3.5% ?

Silver

I like seeing old Falang with Thai girl at the shops.  Man looking and pointing at pieces, girl shaking their head no but slowly walking toward the more expensive stuff.