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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (62835)	1/22/2001 12:30:29 PM
From: lorne	Respond to of 116756

Thailand's domestic gold demand rose 20% to 57.6mt in 2000 Singapore (Platts)--22Jan2001 Thailand's domestic gold demand rose 20% to 57.6mt in 2000, from 48mt in 1999, industry sources said Monday. "Since the waiver of VAT [levied at 7% on goods purchased and services rendered], many local dealers have set up centers to cope with the increased demand," a Thai Gold Traders' Association official said. The Thai government removed VAT on gold imports from Sep 1, 2000 in a move aimed at reducing gold smuggling. A World Gold Council official has reportedly said the smuggling trade has been reduced although no official figures were available. Meanwhile, the TGTA official expects 2001 gold imports to be between 80-100mt, based on the good local demand. "The Thais love gold as it has better retaining value compared with the fluctuating local currency," the official added. platts.com