Thailand’s Gold Traders Association (GTA) doesn’t expect much from this year’s gold sale during Chinese New Year. The new year usually draws a swarm of customers looking to buy gifts for their loved ones.
But this year, Chinese-Thai buyers will prefer to buy smaller pieces weighing one or two salung, rather than one-baht pieces, according to GTA vice-president Pichaya Phisuthikul. One salung is 3.81 grams, or one-quarter of a baht.
The GTA expects gold sales to only rise by 5% to 10% during the Chinese New Year, Nation Thailand reported.
The director of the Chin Hua Heng chain of gold shops, Worachai Tangsitpakdee, echoed Pichaya’s prediction. Worachai said that he expects gold sales to rise over the Chinese New Year, however, he expects Chinese-Thais to prefer gold pendants or rings to large necklaces.
Pichaya said that many…
