Gold prices surge amid geopolitical tensions and a weaker US dollar, climbing towards key resistance levels.
Gold prices have reached a one-week high, driven by the ongoing Russia-Ukraine conflict and a softer US dollar, as investors seek safe-haven assets. This increase has seen gold approach the resistance level of $2,640-$2,650 per ounce, while the SPDR Gold Trust reported its holdings rising to 872 tonnes. Transitioning to regional opportunities, Thailand is positioning itself as a potential investment haven in ASEAN.
The CEO of CP Group, Suphachai Chearavanont, highlighted Thailand's potential as the 'Switzerland of ASEAN' at the Forbes Global CEO Conference in Bangkok, proposing its neutral stance could attract significant global investments in technology. To further embrace innovation, Central Group's executives are turning their attention towards China's tech giants.
Central Group, Thailand's retail and real estate leader, organized visits for its executives to Chinese tech firms, aiming to harness cutting-edge technology and AI for its operations. In line with technological advancements, WHA Group also targets a tech-driven transformation by 2025 to enhance sustainability.
WHA Group is aiming to reduce carbon emissions with a fleet of 20,000 electric vehicles by 2029, contributing to its goal of net-zero emissions by 2050. On a broader national scale, Thailand is also focusing on digital competitiveness with initiatives set to improve its global standing by 2026.
Thailand's ambitious aim to enhance digital competitiveness includes improving cloud infrastructure, AI regulations, and distributing tablets to students, with the goal of climbing to a top 30 position in the IMD World Digital Competitiveness Ranking by 2026. In other news, a significant legal ruling unfolded as a Thai woman was sentenced in the first of her 14 murder trials.
Sararat Rangsiwuthaporn was sentenced to death by a Bangkok court for poisoning her friend with cyanide, marking the beginning of her series of murder trials. The case highlights the severity and complexity of the investigations as they uncover unsolved poisonings dating back to 2015.