PATTAYA, Thailand – Gold prices in Thailand surged sharply on January 19, pushing many Pattaya shoppers to pause, calculate — and in some cases, rethink their plans. According to the Gold Traders Association, the selling price of gold jewellery jumped by 600 baht from Friday’s close, with gold ornaments now selling at 69,850 baht per baht-weight as of 4.18pm.
Gold bars (96.5%) were quoted at 68,950 baht for buying and 69,050 baht for selling, while jewellery buy-back prices stood at 67,568.12 baht per baht-weight. On the global stage, spot gold climbed to US$4,671 per ounce, reflecting renewed investor anxiety abroad.
Behind the surge lies a familiar mix of global tension and market nerves. Analysts at Hua Seng Heng pointed to a weakening US dollar, with the DXY index slipping to 99.20, helping lift gold prices. The move comes amid escalating political friction after former US President Donald Trump intensified pressure over Greenland, fuelling fears of a fresh trade war between the United States and its European allies.
Washington has reportedly prepared import tariffs starting at 10 percent on goods from eight European countries opposing the Greenland plan — including France, Germany and the UK — with rates set to rise to 25 percent by June. European leaders, meanwhile, are scrambling to organise emergency talks, with the EU considering retaliatory tariffs on US products worth as much as US$108 billion.
Despite rising geopolitical risk supporting gold, US bond yields continue to climb. The 10-year Treasury yield rose for a second straight day to 4.22 percent, while CME FedWatch shows a 95 percent probability the Federal Reserve will keep rates unchanged at its late-January meeting. Speculation that Kevin Hassett could be nominated as the next Fed chair has also cooled expectations of aggressive rate cuts once Jerome Powell’s term ends.
For Pattaya residents and visitors, the story is closer to home — and often more personal. Jewellery shops across the city are seeing cautious foot traffic, as buyers debate whether 69,850 baht is too steep or simply the price of making a statement. Some see gold as a safe store of value in uncertain times; others view it as something more symbolic — a gift that still carries weight when words, dinners or beach strolls fall short.
As one long-time trader quietly noted, “Gold doesn’t argue, doesn’t forget — and it still shines long after the moment passes.” At 69,850 baht, that shine now comes with a serious price tag.
