PATTAYA, Thailand – Foreign visitors and long-term residents in Pattaya may have to rethink buying gold, as Thai gold prices surge toward 60,000 baht per baht-weight amid global economic shifts.
The recent climb comes as the U.S. Federal Reserve signals interest rate cuts in September, expected to continue later this year, weakening the dollar and driving gold prices higher. Mid-2025 saw gold reach 54,000 baht per baht-weight, and the price spiked to 54,500 baht on 3 September. Analysts now project the price could hit 60,000 baht by the end of 2025 or early 2026.
“Short-term investors are taking profits, but long-term trends point higher,” said Worachai Tangsitthiphakdee, vice secretary of the Thai Gold Traders Association. “With Fed rate cuts likely, we could see gold at $3,600 per ounce soon, potentially $4,000 per ounce, which translates to 60,000 baht per baht-weight locally.”
In Pattaya, gold shops report a mix of local buyers and foreign tourists attempting to purchase, with many selling for quick gains as prices fluctuate. However, with the rapid rise, foreigners may find buying gold increasingly unaffordable, at least for now.
As of 15:10, Thursday (Sept 4), gold prices had adjusted 16 times, with bullion buying at 54,050 baht and selling at 54,150 baht per baht-weight, while jewelry ranged from 52,969 to 54,950 baht per baht-weight.
The sharp increase serves as a reminder that for foreigners in Pattaya, the dream of owning gold may have to wait — or could be permanently out of reach if prices continue their upward trajectory.
