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(From The Nation (Thailand))
Byline: The Nation.
TMB Asset Management (TMBAM) has forecast that the net asset value (NAV) of its TMB Gold Fund will rise by about 10 per cent this year, according to the assistant to the director of the firm's Investment Department, Kampol Jantavibool.
Gold prices are correlated with oil prices, he said, and they are expected to continue to rise this year.
Launched in December 2005 when global gold prices were on the rise because of speculation, the NAV of the TMB Gold Fund recently reached Bt11.2 per unit. This already includes foreign exchange losses.
The price of gold has been rising since late …