Korat gold shops quiet amid sluggish demand this Chinese New Year


DESPITE CHINESE New Year usually heralding a bounce in trade of gold jewellery with people buying precious ornaments for their loved ones, this time round demand is low in Nakhon Ratchasima, or Korat, leading to gold shops remaining rather quiet, INN News said today (Jan. 21).

At this northeastern city’s economic centre stretching along Chom Phon Road, Mueang district, where more than 20 gold shops are located, it was observed that those who are buying gold ornaments, priced at 30,350 baht a baht weight today, are mainly only doing so to give to their parents and no one else.

Mr. Chaichana Praphutthipong, president of the Nakhon Ratchasima Gold Trade Association, said despite the demand being sluggish, Chinese New Year purchases had increased slightly from last year. However, trading is not as brisk as it usually is because the festival arrived early this time, and most people had already spent a lot of money during New Year and Children’s Day holidays.

While purchasing power has been depleted, customers are still coming to buy gold for their parents, he added.

Meanwhile down south at Hat Yai city, Songkhla province, Chinese New Year festival is bustling as Malaysian and Singaporean tourists flock in with many using the bus service to and fro Kuala Lumpur.

Mr. Tony, manager of Hat Yai Tony Susana Tour Company, said Malaysian tourists are coming continuously with bookings full from this weekend to next week.

Events are being held to mark this festival during Jan. 20-24 with Saneha Nusorn Road closed for the purpose.


Top: A gold shop in Korat where trading is flat this Chinese New Year. 

Insert and Front Page: Some gold ornaments on sale at a Korat gold shop. All photos: INN News

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