YLG touts safe-haven precious metal as risks escalate

As war in the Middle East intensifies and financial markets swing wildly, Thai investors, particularly older buyers, are rushing to small-sized physical gold, betting the rally is far from over.

- NUNTAWUN POLKUAMDEE

YLG says for 2-3 years, persistent economic headwinds are expected to continue driving safe-haven demand. REUTERS

(REUTERS)

YLG Bullion and Futures chief executive Tipa Nawawattanasub said gold prices have surged by more than US$100 since Friday, currently trading in the $5,380 to $5,400 range, driven by escalating conflict in Iran that risks becoming prolonged.

“The geopolitical situation remains fragile. This is not a short-lived shock,’ she told the Bangkok Post, noting the latest spike reflects both military tensions and deepening macroeconomic concerns.

Adding to the rally, the baht weakened from 31 to 31.40 per dollar, amplifying gains in domestic gold prices beyond moves in the global market. A softer currency has made gold in Thailand even more attractive as a hedge, Ms Tipa said.