Thailand Gears up for Motor Show as Pandemic Restrictions Ease

Bangkok on Tuesday prepared to host its twice-postponed annual auto show. (Reuters)
Bangkok on Tuesday prepared to host its twice-postponed annual auto show. (Reuters)
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Thailand Gears up for Motor Show as Pandemic Restrictions Ease

Bangkok on Tuesday prepared to host its twice-postponed annual auto show. (Reuters)
Bangkok on Tuesday prepared to host its twice-postponed annual auto show. (Reuters)

Thailand’s capital on Tuesday prepared to host its twice-postponed annual auto show, with organizers saying it would showcase the country’s success in containing the coronavirus.

From Detroit to Geneva, motor shows have been forced to cancel due to the COVID-19 pandemic, throwing the future of the industry’s traditional way of marketing new models into doubt.

The 41st Bangkok International Motor Show opens to the public on Wednesday after being pushed back twice since March.

“This is more than the motor show, but also Thailand’s reputation because the other event organizers will be watching,” said Prachin Eamlumnow, chief executive of head organizer of the event, Grand Prix International.

Thailand will be the first to host a motor show on this scale since the pandemic, he told reporters.

Thailand has had no locally transmitted cases of COVID-19 for about seven weeks and has been easing restrictions imposed to tackle the outbreak, seeking to get its economy moving again.

The Southeast Asian country is a major regional car production hub, with its previous motor shows registering more than a million visitors.

Organizers have pledged to limit crowds this year and control entry at the show, where 25 car brands - including Ford and Subaru - and 22 motorcycle manufacturers will display their products.

Each brand’s booth has entry and exit points and guests are required to scan a QR code, a type of barcode, with their mobile phones when entering and leaving, unlike at previous shows when people could roam freely.

Staff at the booths will also be wearing masks or face shields during the show, which runs from July 15 to July 26.

“The government allowed us to hold it, but we still must be very careful,” said Prachin.



Gold Prices Dip on Profit-taking, US Data in Focus

FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
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Gold Prices Dip on Profit-taking, US Data in Focus

FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo

Gold prices fell about 1% on Thursday as investors booked profits following a three-day rally, with markets eyeing US jobs data for clues on the Federal Reserve's rate path amid rising global trade tensions.

Spot gold, which dipped 0.5% to $2,904.51 an ounce as of 1211 GMT, has gained over 10% year-to-date. It hit a record high of $2,956.15 on February 24.

US gold futures also dropped 0.5% to $2,912.10.

"Gold seems to be experiencing profit-taking as investors closely watch tariff developments with prices trading toward $2,900 ahead of the non-farm payrolls report," Lukman Otunuga, senior research analyst at FXTM, said, Reuters reported.

Market focus is pinned on an escalating global trade war after the US imposed 25% tariffs on imports from Mexico and Canada on Tuesday along with fresh duties on Chinese goods.

Asian stocks rose as investors held out hope that trade tensions could ease after US President Donald Trump exempted some automakers from tariffs for a month.

Investors turn to gold as a safe haven asset when geopolitical and economic uncertainties loom.

"Unless there is a fresh direction catalyst, the current bearish price action may drag gold lower. Should prices break below the $2,900, this may signal further downside toward $2,880," Otunuga said.

The spotlight is on Friday's non-farm payrolls report, which is expected to show a gain of 160,000 jobs for February, economists polled by Reuters said.

Meanwhile, platinum prices were flat at $964.68 per ounce.

"We look for platinum to be undersupplied by 500,000 ounces, or 6.4% of demand, in 2025, keeping the metal in a deficit for a third consecutive year," UBS said in a note.

"Our market deficit should further reduce the above-ground inventories below 3 million ounces and help prices to move to USD 1,100/oz this year."

Spot silver dipped 0.7% to $32.39 an ounce and palladium shed 0.5% to $937.74.