PATTAYA, Thailand – As the price of gold in Thailand surged to an unprecedented 64,250 baht per baht-weight on Tuesday, tracking the global Gold Spot’s climb to $4,169 per ounce, many foreign boyfriends are rethinking the classic gesture of affection long tied to Thai culture — gifting gold.
“It used to be a sweet way to show love and commitment,” said a long-term British resident in Pattaya. “But now, with these prices, it’s more like a marriage proposal to a central bank.”
The rally, fueled by global safe-haven demand amid U.S.-China trade tensions and geopolitical risks, has turned gold shops across Thailand into high-stakes trading floors. Despite the record prices, domestic demand remains strong, with investors — not romantics — leading the charge.
Market analysts warn that with the baht price possibly heading toward 75,000, the gold market could see sharp corrections once global tensions ease or the U.S. Federal Reserve moves to stabilize the dollar.
For everyday Thais and their partners, however, it’s the emotional correction that’s happening first. Many expats say they’re now suggesting alternatives — from travel and tech gadgets to savings plans — instead of jewelry.
A German retiree in Pattaya quipped, “My girlfriend used to ask for a gold bracelet. Now I tell her we can both wear Fitbits — they’re cheaper, and at least they tell us when our hearts stop from checking gold prices.”
While Thailand’s Gold Traders Association acknowledges there are no immediate downside risks, the sentiment among many foreign residents is clear: romance is still golden, but only metaphorically.
