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This is the first time that the gold shops closed their business during the Chinese New Year Festival, Jitti said. People usually bought gold ornaments during the festival.

"The world gold prices have been changing several times in a day. Our shops have to change the prices many times. So we decide to stop selling gold items on Monday and Tuesday," he said.

Gold markets in Asian countries have also closed during this time, he added.

The shops will be re-opened on Wednesday.