Bangkok--12 Mar--WeeM Communications
Classic Gold Futures plans to achieve a minimum growth of 6% with investor education as a key strategy. The firm is granted a full license this year and now capable of trading all kinds of derivatives. It aims to educate as they engage investors with a market share target set for over 6%.
Nuttatee Jutavarakul, Chief Executive Officer, Classic Gold Futures Co., Ltd., shares, “The gold futures market in 2012 was quite volatile and difficult to predict. There was an adjustment in the first half of the year, following a continuous rise of three full years from 2008 to 2011. That, however, did not dampen speculation in gold futures at all. We have had a 300% growth in the year which is a satisfactory achievement for us. The months from September to December were particularly good as we have secured more market share and rose to the number one position in the gold brokerage industry for four consecutive months. It is a pleasurable experience to see existing and more new clients investing in gold futures these days.”
“Classic Gold Futures now handles an average of 6,350 contracts each day. Most recently, our firm has acquired the full license for the trading of all derivatives with the exception of USD futures. This new development is very accommodating of all investment styles and gives clients new opportunities to earn from their investment portfolio. In this initial phase of full derivatives service, our focus will be primarily on the gold futures and the SET50 futures as these are two very interesting products with high earning potentials for the investors. We are certain we will be able to secure around 6% market share for all products combined.”
Following the acquisition of the full license, Classic Gold Futures will begin to conduct seminars at the various financial events to help educate clients on new products, in addition to those held by the firm on Tuesdays and Thursdays. More promotional campaigns are being launched throughout 2013 including the latest ‘Good in Taste with Classic Points’ from February to March where Classic Gold Futures clients can claim dining vouchers at prominent restaurants using their points.
“Gold price trend remains downward in this month of March as the US economy begins to pick up and as investors shuffle out of gold as a safe haven and other mutual funds to higher risk assets. One must note, however, that the political issues in Europe and the handling of the fiscal cliff situation will begin to influence the gold market once again, resulting in volatile gold price at this time. The US Federal
Reserve Bank has already confirmed their continued use of the QE measure —a decision with the potential to bring gold prices up to a certain level. The weight is still on high risk assets as we can see the Dow Jones Index reaching a new high again and again. The strengthening of US Dollar may cap the gold price rise within a restricted bracket but purchase volume may still be seen as gold price has dropped significantly in recent months. Any rise will be short-term with no sign for a sustained rising trend. There is a significant resistance at 1600/1640. The failure to break that resistance will result in gold price dropping again to the support of 1565/1555 and 1525/1500 with the resistance being 1600/1640. Gold price can rise by USD 20-30 if they can break through the 1550-1640 bracket,” says Nuttatee.