SEATTLE (Scrap Monster): The World Gold Council (WGC) Retail Insights Report released yesterday focuses on Thailand’s gold market.
According to the report, Thailand has one of the largest gold markets in ASEAN region. Almost 46% of participants in a survey conducted by the gold trade body owns gold in some form or other. The report identifies opportunities for the country’s gold market to better serve retail investors.
The gold investors in Thailand consider gold as a safe haven asset. The main motive behind investing in the yellow metal is for wealth protection and long-term returns. However, high risk customers make gold purchases to generate short term profits by riding on the price moves.
Nearly 20% of investors in the country have never bought gold before, but would consider investing in it. Also, 77% of investors who have bought gold in the past, consider buying it again in future. Only 3% said that they would never consider gold purchases. A thorough awareness drive on various affordable gold investment options would boost gold purchases in the country, WGC said.
The report noted that increased digitization of the gold market would significantly benefit gold investors in Thailand.
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