Gold shops have suspended bar trade at weekends

Gold shops have suspended bar trade at weekends as a way to protect themselves from risks resulting from global price volatility.

The campaign, which has started since Saturday, will continue until the situation in the world market has returned to normal. Trading activities go on as usual on weekdays.

Gold traders speculated that gold prices would remain volatile. What strikes them as unusual is the behavior of people who keep on snapping up gold bars, despite unpredictable prices.

Representatives of Gold Traders Association on Friday were invited to a meeting at the Bank of Thailand to inform the BOT of the plans to deal with the matter.