Unlocking the Potential of Gold in the Thai Market
Potential of Gold in the Thai Market: The global gold industry is currently facing challenges such as the economic slowdown. Consistently high inflation Geopolitical tensions and recessions all have an impact on gold demand and trading. However, gold is still a precious metal worth buying. Whether for investment or as a gift.
Potential of Gold in the Thai Market
As for the potential of investing in gold in the Thai gold market, Gold entrepreneurs should consider using innovation and technology to further strengthen the reliability, integrity, and accessibility of the gold market.
Specifically, digital gold trading involves the process of creating a blockchain token that represents a specific amount of gold by using blockchain technology to be able to buy and sell gold through banks or exchanges.
This new type of gold product will help increase sales growth opportunities. It also increases transparency and allows traceability in the retail gold market.
Thailand’s Gold Potential Today
The domestic gold market is continuously developing thanks to the cooperation of industry participants. This is because gold is considered an important asset that people all over the world are interested in and has a high value.
Previously, gold trading was restricted to a small number of participants including central banks from countries that held gold as reserves, gemstones, and the jewelry industry and electronic components industry.
But nowadays, the functions of gold are more diverse than ever before. This is because it is seen as another type of investment asset. Also, this makes it possible to produce a wide range of gold products designed to meet the changing needs of consumers.
As a result, the Thai gold market expanded both in terms of demand and export value, which benefited the economy both directly and indirectly.
As for the factors that influence the price of gold in the country, it is the value of the baht. The slightly stronger baht makes the price of gold in the country stable.
The strengthening of the baht and concerns about falling interest rates could result in lower gold prices in Thailand.
In summary, the strengthening baht and concerns about falling interest rates may result in a decline in gold prices in Thailand.
However, the Bank of Thailand still sees gold as a safe haven in an era of high inflation and increasing geopolitical risks.
The Bank of Thailand has increased its gold holdings over the past three years, which is a good trend for gold investment potential in Thailand.