BANGKOK: Thais are flocking to Bangkok’s Chinatown to sell their gold jewellery as the price of the precious metal spikes and the economy tanks due to the coronavirus pandemic.
That has boosted the price of gold across the world, tempting many to sell their stocks of the precious metal at a time of economic hardship without recent precedent. In Bangkok, where a virtual lockdown has taken root for a fortnight, hundreds flocked to Yaowarat, Bangkok’s Chinatown, to trade bracelets, necklaces and rings for cash as local gold prices jumped more than 20%.
Traders have bought tens of millions of dollars worth of gold since Tuesday, according to Jitti Tangsitpakdi, a chairman of a trade association.
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