Gold News

Thais 'go for gold during price dips'

While gold investment levels in Thailand are currently low compared with those in other Asian countries, residents generally flock to the yellow metal whenever prices consolidate, according to one expert.

Speaking to Reuters, Albert Cheng of the World Gold Council's (WGC's) Far East office said that Thais are known to look at gold as an investment and trade on it, despite figures suggesting that the country saw net investment demand of 18 tons last year - compared with 56 tons in India.

Gold is generally sold whenever prices go up, but it is also bought back again as soon as gold prices drop, Mr Cheng explained.

"I am not surprised they are selling because nowadays it is a very good price," he said.

"But every time we see a dip, people come back."

The news may be useful for Asian investors looking to buy gold - as it could indicate that gold price falls are not always a negative aspect when it comes to investing in gold as there will always be some level of demand.

According to the WGC, global identifiable gold demand saw a four per cent rise last year.

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