Gold prices in Thailand declined on , according to the Association of Gold Traders. The price of ornamental gold fell to 72,900 baht per baht-weight (15.244 grams).
The Association’s latest data, released at 3:35 PM local time (13th announcement), shows gold bullion is currently being bought for 72,700 baht per baht-weight and sold for 72,900 baht per baht-weight. Ornamental gold is being purchased for 71,252 baht per baht-weight and sold for 73,700 baht per baht-weight.
These price movements occur within a broader context of global gold market fluctuations. While the provided data focuses specifically on the Thai market, understanding the international drivers of gold prices is crucial for interpreting these local changes. Gold often acts as a safe-haven asset, meaning its price tends to increase during periods of economic uncertainty or geopolitical instability. Conversely, a strengthening US dollar or rising interest rates can put downward pressure on gold prices.
The distinction between bullion and ornamental gold is important. Bullion refers to gold in its purest form, typically traded as bars or coins, and is valued primarily for its gold content. Ornamental gold, includes alloys and craftsmanship, adding a premium to its price. This explains the price difference between the two types of gold reported by the Association of Gold Traders.
Looking back at February 2024, data from Bullion Rates indicates a range of gold prices in Thai Baht. Throughout that month, the price of gold per troy ounce fluctuated between 71,850 THB and 73,353 THB. Specifically, on , gold was priced at 72,615 THB per ounce, translating to 2,334.63 THB per gram. By , the price had risen to 73,353 THB per ounce, or 2,358.35 THB per gram. This historical data provides a baseline for assessing the current price decline.
The current price of 72,900 baht per baht-weight for ornamental gold represents a decrease from the higher end of the February 2024 range. However, without knowing the specific factors driving the current decline – such as changes in global gold prices, currency exchange rates, or domestic demand – it’s difficult to determine whether this represents a significant shift or a normal market correction.
GoldBroker.com provides current gold prices in various currencies, including US Dollars and British Pounds, but does not offer a specific Thai Baht price at the time of this report. This highlights the importance of relying on local sources, such as the Association of Gold Traders, for accurate pricing information within the Thai market.
Thai-gold.com tracks 96.5% purity Thai gold, per 1 baht weight (15.22 grams), and provides historical data on price trends. This resource is valuable for investors and consumers seeking a longer-term perspective on gold prices in Thailand. Baht.com offers a comparison of the Thai Baht currency rate against gold, Bitcoin, and the US dollar, providing a broader financial context.
The Thai gold market is sensitive to a variety of factors, including global economic conditions, geopolitical events, and domestic monetary policy. Changes in interest rates set by the Bank of Thailand, for example, can influence the attractiveness of gold as an investment. Fluctuations in the value of the Thai Baht against other major currencies can impact the price of gold, as gold is typically priced in US dollars.
For investors considering purchasing gold in Thailand, it’s essential to understand the different purity levels available. The Association of Gold Traders’ data specifically references prices for gold of varying karats, from 23 Karat (96% purity) down to 1 Karat (4% purity). The higher the karat, the greater the gold content and, generally, the higher the price.
The current decline in gold prices may present an opportunity for buyers, but it’s crucial to conduct thorough research and consider individual investment goals before making any decisions. Monitoring the factors influencing the gold market, both domestically and internationally, will be key to navigating potential price fluctuations.
The Association of Gold Traders will likely release further announcements throughout the day, providing updated price information. Investors and consumers should continue to monitor these announcements for the latest developments in the Thai gold market.
