BANGKOK, Thailand – Gold prices in Thailand continue to climb, reaching historic highs amid strong global market momentum. In just one year, local gold prices have surged by nearly 20,000 baht per baht-weight. Experts predict the upward trend could push prices toward $4,200 per ounce by the end of the year.
The Gold Traders Association reported that as of 9:25 a.m. on Monday, October 7, 2025, gold prices in Thailand have increased three times, totaling a 550-baht rise compared to yesterday’s close. Gold jewelry is selling at 61,850 baht per baht-weight, while gold bars are priced at 61,050 baht. The Gold Spot price currently stands at $3,965 per ounce, with the baht trading at 32.50 per U.S. dollar.
Compared to the same date last year, gold bars were sold at 41,950 baht and gold jewelry at 42,450 baht per baht-weight, highlighting a sharp increase over the past 12 months.
The rise in Thai gold prices mirrors trends in international markets. On Monday, October 6, New York gold futures hit record highs, rising 50% since the start of the year. Investors’ confidence is fueled by expectations that the U.S. Federal Reserve may cut interest rates at its upcoming October meeting. Economic and political uncertainties in France, Japan, and ongoing U.S. government shutdowns have also contributed to gold’s appeal as a safe-haven asset.
COMEX December gold futures rose $67.40, or 1.72%, to close at $3,976.30 per ounce. UBS analysts expect gold prices to continue climbing, with a potential target of $4,200 per ounce by the end of 2025.
Locally, Nattawut Wongyaowarak, Director of Research at Globlex Securities, said gold prices are likely to rise further, supported by anticipated rate cuts of 0.25% twice this year and additional 0.25% cuts in 2026 and 2027. Inflation remains close to forecasts, and central banks in BRIC countries, particularly China, continue to accumulate gold to diversify reserves away from the U.S. dollar. Swiss gold exports to China in August increased by 254% from July, reflecting ongoing demand.
Despite the strong uptrend, analysts caution investors about potential short-term profit-taking. For October, gold prices are expected to fluctuate between $3,900 and $4,000 per ounce. If prices break below support levels, investors are advised to pause and reassess the market.
Hua Seng Heng reported that gold futures remain supported by the stable U.S. Dollar Index (DXY), currently fluctuating between 97.95 and 98.11. The U.S. government shutdown, now in its sixth day, could further impact markets, as federal employees will start missing paychecks on October 10 and 15 if the shutdown persists.
The outlook for global gold remains bullish, though short-term corrections may occur. Analysts suggest buying at support levels around 60,900 baht per baht-weight and selling near resistance at 61,200 baht. A break below 60,600 baht would signal a stop-loss point for investors.
