Sunday, March 3, 2024

Thailand reports strongest 2023 consumer gold demand growth in ASEAN market

Share

Thailand experienced the largest surge in consumer gold demand within the ASEAN markets in 2023, largely attributed to the devaluation of the local currency. The country reported the highest growth in consumer gold demand, outpacing other markets in the region. This trend reflects a strong preference for gold as a hedge against economic instability and currency depreciation in Thailand. The impressive growth in consumer gold demand underscores the significance of gold as a safe-haven asset in the region.

The 2023 consumer gold demand in Thailand outstripped that of other ASEAN markets, signaling a strong preference for gold as a reliable investment option. The surge in demand is largely attributed to the depreciation of the local currency, prompting consumers to turn to gold as a safeguard against economic instability. This growth underscores the enduring appeal of gold as a safe-haven asset in the region, especially during times of currency devaluation and market volatility.

Thailand’s consumer gold demand in 2023 experienced the largest increase among ASEAN markets, reflecting a growing reliance on gold as a means of securing wealth amid economic uncertainty. The depreciation of the local currency drove this trend, as consumers sought to protect their assets from fluctuating exchange rates. This surge underscores the enduring popularity of gold as a reliable investment choice in Thailand and highlights its significance as a safe-haven asset in the ASEAN region.

Source link : Thailand reports strongest 2023 consumer gold demand growth in ASEAN market

Thailand Business News
Thailand Business Newshttps://www.thailand-business-news.com/
Thailand News with a Business Perspective

Read more

Latest News