การศึกษาพฤติกรรมและทัศนคติต่อการลงทุนในทองคำของนักลงทุนบุคคล / บำรุงพงษ์ ชีวธนากรณ์กุล=The study of attitude and behavior of individual’s investors for gold investment /Bamrungpong Chevatanakornkul
Gold Investment has been developed as an alternative investment. Individual’s investors can invest in gold conveniently through mutual fund, exchanged trade fund, and derivative instruments in the recent years compared to the past that previously they could invest only in gold bullion or gold ornament. The objective of this study is to examine the factors that affect the individual’s investors’ attitude toward gold investments and their behavioral on gold investment. The survey of 220 individual’s investors who invested in the Stock Exchanfe of Thailand has been conducted. The study found that individual’s investors prefer the most to invest in gold bullion / gold ornament. The second choice to invest in gold is to do it through mutual fund. The gold futures and the gold ETFs are the third and last alternatives. The study of decision-making process found that gold bullion, gold ornament, mutual fund and gold futures still have high rate of remaining investors. However, investment in gold ETFs has fewer investors left. The research also found that the major reason why some investors refuse to invest in gold is a lack of knowledge in gold investment. On the other hand, the gold investors’ major reason for gold investment is speculation. Still, the survey found that investors’ satisfaction from gold investment is moderate. According to statistical hypothesis testing, it’s found that mutual fund has correlation with Moderate Investors whereas gold futures have correlation with Aggressive Investors, Speculate Investors and Technical Analysis. Besides, investors’ behavior is significantly associated with previous success or failure in investment.
