Thailand promising to be world hub of gold

BANGKOK, 17 November 2013 (NNT) - The World Gold Council has suggested that Thailand has the capacity to be a major hub for gold thanks to the surge in Thailand's investment demand for gold.

The World Gold Council has recently reported that demand in Thailand for gold jewelry rose by 57% year-on-year in the third quarter of 2013; the country also saw a 126% year-on-year rise in gold bar investment. The Council attributed the rise in demand for gold to concerns that the Thai baht might be devalued.

Thailand’s higher demand for gold has caused a ripple effect throughout Asia since the country is an important route to channel gold into other markets, especially India; given that Thai gold imports substantially benefit from the Thai-Indian bilateral free trade agreement, which lowers import taxes to 1% on Thai jewelry, compared to 10% on other countries.

Although Thailand’s consumer demand for gold paled in comparison to those of India and China, its year-on-year growth rate is higher than both countries'.

-- NNT 2013-11-17

It has a very very long way to go to catch up with India, the Gulf States, South Africa and Russia who have been dealing in gold for centuries now.

What do they want to do?

Buy up all the gold in the world to create a shortage so the price will rise just as they tried with rice?

It will never happen as Thailand does not have enough money for it.

would that be FOOLS GOLD

Hub of gold diggers still not nominated.

“Thailand promising to be world hub of gold “

It may be happening in a way that may not be so obvious to many…………………………..

And because of its traditional gold ties, regional commerce, and generous transportation options, Thailand has now become a major transit point for international gold smuggling destined for India.

I’ve noticed this on the ground; there’s been a surge of gold shops and new inventory in the marketplace, particularly the small ‘biscuit’ bars that are easier to smuggle.

Much of this is bound for India.

http://www.sovereignman.com/offshore/not-exactly-the-brightest-way-to-smuggle-gold-13193/

Edited November 17, 201312 yr by midas

Also, Thailand promising to be the hub of all hubs , you name it, they will be the hub !!!

2014 Gold chart.

How's the Thai gold price done well in the past year? Granted that wasn't said in the article.

Edited November 17, 201312 yr by somchaismith

2014 Gold chart.

How's the Thai gold price done well in the past year? Granted that wasn't said in the article.

this wasn’t said in the article either

Thailand is already a world hub of everything that has ever existed.

I was wondering where all that rice money was going. Still, better gold than ivory.

But surely with other countries having much bigger markets they meant 'a' world hub not 'the' world hub though?

Edited November 17, 201312 yr by bigbamboo

2014 Gold chart.

How's the Thai gold price done well in the past year? Granted that wasn't said in the article.

Do you have more performance charts of investment products for NEXT year ?

Edited November 17, 201312 yr by PeterSmiles

What is left for Thailand to be the hub of? sugestions on the back of a postage stamp please.

Also, Thailand promising to be the hub of all hubs , you name it, they will be the hub !!!

Mee tdink day hub too mutt

Ohh god....now the farangs are encouraging them to add another hub in their long list of fail hubs.

Sent from my GT-I9200 using Thaivisa Connect Thailand mobile app

People in India buy quite A bit of gold.A huge wedding ,it's unbelievable how much gold will be there.

The World Gold Council recently released its quarterly data on global trends, and the numbers are very clear: India's gold demand cratered, dropping 32% because of the restrictions.

In Thailand, however, gold demand is up 125% from the 3rd quarter of 2012.

I've noticed this on the ground; there's been a surge of gold shops and new inventory in the marketplace, particularly the small 'biscuit' bars that are easier to smuggle.

Much of this is bound for India.

Indian customs officials say that the amount of gold seized has soared over 300% this year.

http://www.zerohedge.com/news/2013-11-16/not-exactly-smartest-way-smuggle-gold

I hope they don't. The very small buy/sell spread is one of the world's best kept secrets.

Thailand is already a world hub of everything that has ever existed.

thailand was the first hub of farang hubsands

re

What is left for Thailand to be the hub of?

high speed railways ?

dave2

Bangkok wants to be the world hub of world hubs.

Also, Thailand promising to be the hub of all hubs , you name it, they will be the hub !!!

Correct me if I'm wrong, but I believe they now have all the bases covered ... there is nothing else left to be the hub of, so this should be the last 'hub report' that we hear ... hopefully...!!

Huba-Huba....

What's left for LOS to be the hub of?

How about...the worlds hub of BS.

Edited November 18, 201312 yr by sunshine51

Oh no, not another Hub story.

I thought Thailand was already the Hub of the universe. We're all Hub-bed out here, stop!

WOW, look at the hubs on her!

Oh, sorry about that.

Oh no, not another Hub story.

I thought Thailand was already the Hub of the universe. We're all Hub-bed out here, stop!

WOW, look at the hubs on her!

Oh, sorry about that.

Probably artificial implants.

(i.e fake, like a lot of stuff here)

Thailand is already a world hub of everything that has ever existed.

hub of hubs?

I see that somebody has posted charts and graphs showing gold is getting cheaper to buy. Are they inferring this only happens in Thailand? I thought gold prices were set internationally ! Thai Gold is still gold. I am looking at the precious metals index, but do not see anything about "Thai" gold. What am I missing?

Thailand is already a world hub of everything that has ever existed.

So many hubs that I can see LOS revolving in ever decreasing circles until it disappears up it own fundamental orifice.

Thailand is already a world hub of everything that has ever existed.

hub of hubs?

Sorry ,i did that one in another "hub" thread But as i did think as Bangkok is sinking ,it could eventually be "the hub of underwater cities?"

Thailand is already a world hub of everything that has ever existed.

hub of hubs?

Sorry ,i did that one in another "hub" thread But as i did think as Bangkok is sinking ,it could eventually be "the hub of underwater cities?"

Hub of lost hubcaps?

I see that somebody has posted charts and graphs showing gold is getting cheaper to buy. Are they inferring this only happens in Thailand? I thought gold prices were set internationally ! Thai Gold is still gold. I am looking at the precious metals index, but do not see anything about "Thai" gold. What am I missing?

But is Thai gold really gold? Surely the world gold price is set according to "pure" gold (99.99%), while Thailand and surrounding countries are quite happy to use 96% gold as a benchmark.

If they want to be a "world" hub then surely they will have to start dealing in real gold, won't they? Or will they just insist that the rest of the world dilutes its gold to follow the Thai system?