Domestic supply increased, as Thais sold their gold, an asset easier to dispose of than land, to raise cash in an economy in a downturn due to COVID-19's impact on tourism and manufacturing.
In a survey conducted by the Gold Research Center, external factors engaging the attention of the gold traders were a meeting between the Japanese Central Bank and the European Central Bank, the warning of the possibility of riots prior to the Presidential Inauguration by the Federal Bureau of Investigation (FBI), the actual inauguration of Joe Biden as the President of the United States, and the continued impact of COVID-19 on the US economy.
Gold Investors in Thailand
Gold is a culturally significant asset in Thailand as its citizens will invest in gold as a gift for newborns or for weddings, religious purposes, and for financial security.
During the initial hour of research, the focus was placed on identifying trends for investing in gold in Thailand and the type of investors in the market.
Three trends were identified, and while there was publicly available information regarding the investment practices of private Thai citizens, no information was sourced identifying institutional investors of gold in Thailand.
Due to time constraints, information regarding the tools, products, and services used to invest in gold, the attitudes to investing in gold, examples of digitization and the role of the government was not done.
We propose further research to expand on the trends identified above, and to expand on, and provide the information regarding the tools, products and services Thais as gold investors use, their attitudes to investing in gold, examples of digitalisation in the industry, and the role of the government in the gold market.
Only the project owner can select the next research path.