Thailand's convicted former prime minister Thaksin Shinawatra was released from Bangkok's Klong Prem Central Prison on Monday after being allowed to complete the remaining four months of his one-year sentence on parole.
Thaksin made a public appearance at around 07:40 local time, reuniting with family members in front of the prison, where he had served two-thirds of his sentence required by standard parole criteria.
He and his family paid tribute to the Thai flag, expressed gratitude to the supporters, and then left by car at around 07:55 local time.
As he departed to report to a Bangkok probation office, crowds of supporters wearing red shirts greeted the former prime minister as they gathered outside the prison compound under tight police security.
Thaksin, now 76 years old, served twice as prime minister of the Southeast Asian nation, winning elections in 2001 and 2005. A military coup in 2006 cut short his second term, and he went into self-imposed exile in 2008.
Former Thai PM Thaksin released on parole
A gold buying craze is sweeping China, with consumers piling into the precious metal to preserve and grow value as prices hover at record highs.
According to data from the China Gold Association, the country's gold consumption exceeded 303 tonnes in the first quarter of this year, up 4.41 percent year on year.
Behind this slight overall increase lies a significant divergence in the structure of gold consumption: While gold jewelry sales continued to face pressure, consumption of investment-grade gold products such as gold bars and coins surged by 46.4 percent year on year.
At the Shuibei market, a gold jewelry manufacturing and trading hub in the southern metropolis of Shenzhen, investment-grade gold products and gold recycling services are showing clear signs of growth.
"Investment gold has risen quite a bit recently. Buying some might help preserve value. Plus, seeing that the central bank is also buying gold now, I figured setting up a regular investment plan probably won't go wrong,'' said a buyer.
In addition to the popularity of investment-grade gold products, gold recycling volumes have remained at high levels since the start of the year.
Merchants at the Shuibei market said that gold recycling volumes have been climbing steadily, with monthly volumes reaching over 500 grams.
In Beijing, sales of gold bars through banks have also surged sharply this year, while subscriptions for gold-related wealth management products and funds have notably increased.
This year, the number of gold investment clients and the scale of transactions have grown markedly at many bank branches in Beijing.
"(Regarding household asset allocation) 30 percent should be invested in gold. I believe gold offers better risk resistance and is more stable," said an investor.
Driven by falling interest rates, some investors have also shifted their funds toward purchasing gold or gold-related investments.
"Subscriptions for wealth management products and funds linked to gold are seven times higher than the same period last year, and the number of clients is nearly four times higher. Conservative investors prefer 'fixed income plus' structured wealth management products, while experienced investors favor products such as gold ETF (exchange traded fund) or FOF (fund of funds)," said Yu Wei, deputy general manager of the Operations Department at China Everbright Bank's Beijing Branch.
This year, gold prices have fluctuated sharply, with spot gold price once peaking at nearly 5,600 U.S. dollars per ounce and bottoming out at about 4,098 U.S. dollars per ounce.
High prices drive up demand for gold purchases in China
