BANGKOK, Thailand – As the Songkran festival comes to a close, gold prices in Thailand continue to fluctuate, hitting a new all-time high with gold ornament (96.5%) selling at 52,500 baht per baht-weight, April 16. The surge is driven by escalating global trade tensions.
According to the Gold Traders Association, the first gold price announcement of the day (at 9:07 AM) saw a sharp increase of 450 baht. This pushed domestic gold prices to historic highs. Ornament gold was being bought at 50,619.24 baht and sold at 52,450 baht per baht-weight. Gold bars were bought at 51,550 baht and sold at 51,650 baht.
By 11:30 AM, prices had adjusted nine times, with the highest point reaching 52,500 baht per baht-weight for ornament gold. In the ninth announcement, ornament gold was being bought at 50,528.28 baht and sold at 52,350 baht, while gold bars were bought at 51,450 baht and sold at 51,550 baht.
Global gold prices soared by over USD 40 per ounce, also reaching record highs. Ongoing global trade tension continues to be a key driver for the surge, as investors seek safe-haven assets like gold instead of U.S. bonds. Although U.S. President Donald Trump unexpectedly suspended tariffs for 90 days (excluding China), investor sentiment has noticeably worsened in response. (TNA)
