Thailand: who’s buying gold?
Gold demand is volatile, especially in Asia, but what on earth is happening in Thailand?
According to some numbers buried in the Thai customs website, gold imports in July, the latest month for which data is available, hit Bt55.4bn ($1.8bn), which is equivalent to a bit less than 45 tonnes and more than 13 times June imports of Bt4.1bn ($130m).
There are a few possible explanations. Thailand is a global jewellery hub – the world’s biggest cutting centre for coloured stones – but jewellery demand was significantly down in June and July.
