Bangkok Bank opens online gold-trading platform
Bangkok Bank (BBL) has joined hands with Hua Seng Heng Group to open an online gold trading service.
The Hua Seng Heng USD Gold Trade platform enables customers to use their foreign currency deposit (FCD) accounts to trade in gold at the US dollar price, said BBL senior executive Chansak Fuangfu on Wednesday.
“Those interested can open an FCD account at any of BBL’s 45 branches,” he said, adding that applications will be made available at more branches if the platform proves popular.
Thanarat Pasawong, CEO of Huang Seng Heng Group, said that online gold trading had grown sharply by 6 per cent this year despite Covid-19’s impact on the global economy.
The minimum trade on the platform was just $1, he said.
Thanarat estimated the gold price at the end of this year will hit $1,800 per ounce, while the price in 2021 would move between $1,750 and $2,000 per ounce.
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