Gold futures exchanges in Thailand expects 200% growth YoY due to night-hours trade

Introduction of night trade helped gold futures exchange’s in Thailand to record growth this year.

According to Thailand Futures Exchange, gold futures exchanges in the contry expects 200% growth year-on-year, largely due to night-hours trade.

Another supporting factor is the hike in gold prices since last year until now, as the fragility of the large economies prompted investors to shift from dollar and euro assets into gold.

Analysts said euro zone debt crisis remained an underlying factor influencing the price of gold as the flocking of investors away from the EU has strengthened the Thai baht and stock market, in turn causing the price of gold to remain volatile but not necessarily higher.

Thailand has six gold futures exchanges including MTS Gold which become the No.1 gold broker in Thailand with a market share of 15-20%, analysts said.

MTS’s sales of gold bullion are expected to double this year from 2010 sales of 170 billion baht, the exchange said. Number of contratcs skyrocketed after authorities allowed night trade in gold and silver,it added. – BullionStreet

Tags: Gold analysis, Gold future prices, Gold futures, Gold investment, Gold news, Gold price, gold price forecast, Gold prices, price of gold, Spot gold, Spot gold price, Thailand gold prices

Posted by admin on Dec 10 2011. Filed under Gold predictions. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry