Briefs

The Thailand Futures Exchange last month set a new record of 74,816 gold futures contracts transacted on a daily average thanks to the volatility in gold prices.

The number of contracts jumped 70.75 per cent from the previous month.

August marked the first time that more than 100,000 futures contracts were transacted a day. August 25 saw 122,572 contracts traded, including 92,475 gold futures contracts.

Average daily turnover for Bt50 gold futures and Bt10 gold futures rose 133.45 per cent and 118.37 per cent respectively from July.

No other month could beat August in the volatility of gold prices. The Gold Traders Association had to revise the domestic price 22 times in a single day.

TAT sale deemed a success

The Amazing Thailand Grand Sale, a campaign of the Tourism Authority of Thailand, was wrapped up with success as spending by international shoppers during the three-month period increased 34 per cent from last year.

Shoppers spent Bt27.4 billion through Visa cards from June-August.  Visa cardholders from the United States, Australia and the United Kingdom were the top three spenders and the top categories, excluding air fare and accommodation, were jewellery, hospitals and duty-free goods. According to Visa International, which helped promote the campaign, special promotions were launched to boost spending.

The key source markets were Singapore, Vietnam, the Philippines, mainland China, Japan, Taiwan, South Korea, Oman, the United Arab Emirates, Bahrain and Qatar.

Singapore and the UAE featured in the top 10 spending list.Asia-Pacific countries also featured strongly in this year's sale, with Australia, Japan and Singapore in the top 10, while other countries such as Germany increased spending.

"The results show that Thailand is regarded as a premier shopping destination in Asia, and Visa is once again delighted to have been able to work with our partners to design and deliver another successful Amazing Thailand Grand Sale," Somboon Krobteeranon, Visa country manager, said yesterday.