$35 billion Thai pension fund shifts assets to gold and oil to mitigate geopolitical risk

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$35 billion Thai pension fund shifts assets to gold and oil to mitigate geopolitical risk
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The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.

“This year, we will adjust investment proportions by reducing assets that could be affected by war and increasing investments in alternative assets such as gold and oil, which help to mitigate risk,” he said. Gold and oil currently account for about 5% of the GPF's portfolio. Songpol said that the lack of clarity about the direction of interest rates in the U.S. creates investment uncertainty, which makes it difficult to pick markets for investment, adding that the Federal Reserve's delay in cutting interest rates implies they believe the U.S. economy is relatively healthy and the U.S. stock market is stabilizing or improving.

Thailand’s gold market has been under considerable strain this year as record-high prices and surging demand have resulted in a According to the Thai Ministry of Commerce, this period of skyrocketing gold prices has also contributed to an unprecedented surge in counterfeit gold, including both gold bars and jewelry, with over 1,600 cases reported in 2023.

is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX.

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