PATTAYA, Thailand – Pawnshops were busy throughout the day as crowds flocked to pledge, redeem and resell gold for profit, despite prices slipping below 80,000 baht per baht-weight, with levels still seen as attractive amid sharp market volatility.
On Friday (Jan 30), reporters observed lively conditions at the Uthai Thani Municipal Pawnshop, where a steady stream of customers lined up following intense fluctuations in gold prices. Although gold has recently retreated to around 78,890 baht per baht-weight, falling below the 80,000-baht mark, prices remain high enough to encourage heavy activity.
Ms. Pathaya Tiansaeng, manager of the Uthai Thani Municipal Pawnshop, said the earlier surge in gold prices to record levels had significantly boosted demand for pawnshop services. On January 29, the pawnshop was crowded all day, and strong turnout continued on January 30.
She explained that many customers are pawning gold to improve cash flow and cover daily expenses, prompting the pawnshop to raise its appraisal values in line with market prices to better support public demand.
At the same time, another group of customers is redeeming pledged gold to sell it on to gold shops, aiming to profit from still-elevated prices or reduce interest burdens on pawned items. As a result, both pledging and redemption transactions have been occurring continuously each day.
Officials noted that gold prices showed signs of a sharp decline on Thursday and remain highly uncertain. With concerns that prices could either fall further or rebound suddenly, many people are rushing to act while market conditions remain favorable.
