Bangkok, Thailand – The Thai gold market is experiencing continued volatility, with predictions of further price increases despite recent corrections. Jitti Tangsitpakdee, President of the Gold Traders Association of Thailand, cautioned against speculative investment using borrowed funds, while also highlighting the impact of regulatory changes and broader economic factors on the market.
Currently, the price of gold in Thailand stands at 55,300 baht per baht-weight for selling and 55,200 baht for buying, with gold ornaments priced at 56,100 baht for selling and 54,090 baht for buying. This represents an increase of 400 baht from recent levels, but remains below last year’s peak of 44,550 baht, according to recent reports. Mr. Tangsitpakdee noted that prices have risen by a cumulative 3,000 baht since September 1, 2015.
The recent fluctuations, particularly the sharp rise and subsequent correction in January 2026, have exposed risks for investors, especially those utilizing online trading platforms and leveraging their positions. Mr. Tangsitpakdee warned that many retail investors who used borrowed money to trade gold have suffered losses as prices declined, facing margin calls from trading apps. He emphasized the importance of using “cold money” – funds not needed for immediate expenses – for gold investments, particularly for those trading online.
“During the period of high volatility from January 1-29, 2026, prices fluctuated wildly and rose continuously without any logical pause,” Mr. Tangsitpakdee stated. “In just one month, the price increased by more than 11,500 baht. At that time, we could only predict that the price of gold would eventually fall sharply. This type of rapid price increase isn’t new to me, I’ve seen it many times. It’s not a normal situation to invest with hot money; you should use cold money, especially traders on online platforms, so they don’t suffer when having to find money to pay margins.”
Adding to the complexity of the Thai gold market is increased regulatory scrutiny of online trading platforms. New regulations cap individual trading limits at 50 million baht per day. Mr. Tangsitpakdee believes this measure will significantly impact investors. He noted that average daily trading volume on online platforms currently stands at 60 billion baht, exceeding the daily trading volume of the Stock Exchange of Thailand. This high volume, he suggested, is a cause for concern.
The demand for physical gold, however, remains lower than the volume traded on online platforms. This disparity suggests a significant portion of trading activity is speculative, driven by short-term price movements rather than a fundamental desire to hold gold as a store of value.
Looking ahead, Mr. Tangsitpakdee anticipates that global economic instability could drive gold prices to new highs, potentially exceeding 90,000 baht per baht-weight, though he stressed this is not imminent. He highlighted the importance of monitoring key economic indicators, including U.S. Interest rate policies, oil prices, and major global conflicts. This outlook aligns with broader market sentiment, as investors increasingly seek safe-haven assets amid geopolitical tensions and inflationary pressures.
The Gold Traders Association has been in communication with the Bank of Thailand (BOT) regarding the strengthening baht, which has reached a four-year high. The BOT has requested more detailed trading data from large gold traders and shop owners. Traders have expressed willingness to cooperate, emphasizing the long-standing significance of gold exports to Cambodia, which are processed through the banking system with appropriate identity verification and declarations.
The broader global context also supports a cautious, yet potentially bullish, outlook for gold. According to web search results from , global semiconductor sales increased by 25.6% to $791.7 billion in 2025, and are projected to reach roughly $1 trillion in 2026. This growth, driven by demand for technologies like AI, IoT, and autonomous driving, suggests continued economic activity and potential inflationary pressures, which historically benefit gold.
geopolitical uncertainty, including concerns about trade wars between the U.S. And China and the potential for a U.S. Government shutdown, are contributing to market volatility and driving demand for safe-haven assets. South Korea’s inability to meet investment commitments to the U.S. As part of tariff negotiations further underscores these global economic tensions.
The Thai gold market, remains sensitive to both domestic regulatory changes and international economic developments. While the recent introduction of trading limits on online platforms aims to curb speculative activity, the underlying drivers of gold prices – global instability, inflation, and geopolitical risk – suggest that further price increases are possible, albeit with continued volatility.
