With price high, Thais with dwindling incomes sell off gold

13 Sept 11:20 Key points summarised by AI

Thais are flocking to gold shops to sell their jewelry and bars, driven by gold prices reaching a seven-year high and the urgent need for cash amidst a severe economic downturn caused by COVID-19.
The massive sell-off is creating a liquidity crunch for gold shops, which are obligated to buy back gold but face challenges reselling it internationally due to reduced flights and global lockdown-induced market closures.
While some sellers aim to profit from the high prices, many are forced to liquidate their gold savings to support families, pay employees, or cover medical expenses after losing jobs or facing business halts due to the pandemic.

Six injured after car smashes into On Nut shopping mall

Today 22:44 Key points summarised by AI

A 67-year-old woman drove her car through the glass frontage of a Bangkok shopping mall, injuring six people, including a six-year-old girl.
The driver claimed she accidentally pressed the accelerator instead of the brake after being startled, causing the vehicle to surge forward.
She apologized to the victims, promising insurance coverage and additional financial aid, while police continue to gather statements before filing charges.