Following the worst plunge in gold prices in 33 years to below the pivotal level of US$1,500 an ounce in April, some derivatives investors have fled to SET50 Index Futures and single-stock futures amid the soaring stock market.
A gold trader in Yaowarat arranges stock. The benchmark SET index has risen 14% this year while spot gold has fallen about 12%, sending gold investors running for the exit and stockbrokers smiling. PAWAT LAOPAISARNTAKSIN
Ausiris Futures managing director Tanasin Gleeblumjeak said 30% of the company's 800 active customers have pulled out of gold futures but poured money into stock futures.
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