PATTAYA, Thailand – The Bank of Thailand (BoT) has announced tighter oversight of gold trading on online platforms, setting a transaction limit of no more than 50 million baht per side, per person, per platform for trades settled in Thai baht. The new rules also prohibit net settlement and short selling, aiming to improve transparency and reduce volatility in the baht. The measures will take effect on March 1, 2026.
Ms. Pimphan Charoenkwan, Assistant Governor for Financial Markets at the Bank of Thailand, said gold trading volumes have continued to rise, and in certain periods large-value transactions have had a significant impact on the exchange rate. The new regulatory framework is intended to strengthen supervision and ensure gold trading transactions meet clearer and more consistent standards.
Under the new rules, the 50-million-baht limit applies only to online platforms settled in Thai baht. It does not cover trades settled in US dollars, transactions conducted through traditional gold shops, gold savings platforms that do not allow resale, or trading on the Thailand Futures Exchange (TFEX). However, investors who already held gold valued above 50 million baht as of January 30, 2026 will be allowed to sell their existing holdings without any time limit.
Additional conditions will apply to gold trading on online platforms in both baht and US dollars. These include a ban on using third-party bank accounts for payments, a requirement that all transactions be settled electronically and in full, a prohibition on net settlement, mandatory physical delivery of gold to the buyer, and a requirement that sellers must already hold fully paid-for gold on the platform before selling.
The Bank of Thailand stressed that the measures apply only to retail customers and do not affect gold traders, gold businesses, or manufacturers using gold as an input. As a result, most retail investors will not be impacted, as transactions below 50 million baht remain unaffected. The BoT added that several of the new conditions are already standard practice among some gold businesses.
Gold shops will also be required to report individual transactions exceeding 20 million baht to the Bank of Thailand. Each qualifying transaction must be reported separately.
Regarding the possible introduction of a gold trading tax, the central bank said it will first assess the effectiveness of the current measures. While such a tax cannot yet be enacted into law, it could be considered as a future regulatory step if existing measures prove insufficient.
The BoT said it continues to monitor multiple factors contributing to baht appreciation, including volatility in global gold prices, and will evaluate the impact of the new gold trading rules before considering additional measures. (TNA)
