PATTAYA, Thailand – Gold prices in Thailand surged on Tuesday (Sept 2), with gold bars hitting 53,350 baht per baht-weight and gold jewelry climbing to 54,150 baht, marking an increase of 350 baht in a single session. The surge, driven by record highs in global gold prices, uncertainty in international trade, and a weakening dollar, has made it increasingly difficult for foreigners to purchase Thai gold for gifts or personal use.
The Gold Traders Association reported that gold opened the market at a 300-baht jump from the previous day, with rapid fluctuations throughout the morning, culminating in the record highs. While investors continue to buy gold as a safe-haven asset, the skyrocketing cost is pricing out foreign visitors who traditionally purchase gold jewelry for Thai girlfriends, wives, or as souvenirs.
Financial analysts note that with global gold unlikely to surpass the $3,500 per ounce resistance in the short term, and support levels tested around $3,470–$3,450, buyers may face further volatility. Many long-term visitors and tourists now find buying gold in Thailand impractical, prompting them to explore alternatives such as silver, local handicrafts, or smaller, lighter jewelry pieces that are more budget-friendly.
“Gold is becoming impossible for foreigners to buy without seriously impacting their travel budgets,” said one long-term visitor in Bangkok. “We love Thai craftsmanship, but at these prices, you have to look for something else.”
As the Thai baht remains strong and global uncertainty persists, the trend of unaffordable gold is likely to continue, forcing tourists and expatriates to seek creative ways to honor local traditions without paying premium prices for gold jewelry.
