In the event of Valentines and Chinese New Year, lots of people buy gold for their lovers and families. Therefore the gold shops in Phuket time get higher circulation during the festivals.
Chaiyouth Prayulyong, the President of Phuket Gold Shop Association, said that this year, the Chinese New Year Day is on the same day of Valentine’s Day, consequently, the ships customers are both Chinese Thais and foreigners. The decreased of gold price in the late of 2009 is also the good motivation to make people buy more gold.
He recalled that when the gold price was 19,000 Baht per Baht (Thai unit), there were a lot of people sold their gold to speculate the profit. Later, the gold price was decreased; they came to buy the lower priced gold again before selling it when the price increases.